Inverse head and shoulder chart pattern forming on daily chart.
GBPNZD Reversal Setup Before entering this trade will be looking for a strong rejection or bearish candle. Details are on the chart. Happy Trading! P, D, P.
GBP/NZD hits new 3-week lows below 21-EMA support, bias bearish. Stochs and RSI are sharply lower and MACD is on verge of a bearish crossover on signal line. Price action has been rejected at daily cloud, dip till lower Bollinger Band at 1.8435 likely. Support levels - 1.8677 (4H 200 SMA), 1.8625 (Nov 16 low), 1.8435 (Lower BB) Resistance levels - 1.8792...
GBPNZD is approaching our first support at 1.8739 (horizontal swing low support, 61.8% Fibonacci extension, 38.2% Fibonacci retracement, ascending support’s channel) where a strong bounce might occur above this level pushing price up to our major resistance at 1.8982 (horizontal swing high resistance, 61.8% Fibonacci retracement). Stochastic (55,5,3) is also...
GBPNZD is approaching our first support at 1.8746 (horizontal swing low support, 61.8% fibonacci extension, 38.2% fibonacci retracement, ascending channel’s support) where a strong bounce might occur pushing price up to our major resistance at 1.8977 (horizontal swing high resistance, 61.8% Fibonacci retracement). Stochastic (89,5,3) is also approaching support...
Trading mindset: 1. Use 1% risk 2. 1:2 risk/reward 3. Wait for update to close manual! In longer term it pays off very well and keeps your capital safe! Breakeven: If you are correct 33% of the time, your capital is safe. Adopt this mindset in order to be successful trader.
Would of done this video with voiceover but have ze man flu & sound crokey as hell. WEEKLY back under & failing at major resistance levels. 4 Hour broke briefly above resistance but closed below & confirming resistance with multiple failed tests.
AUDUSD bounced off its support at 0.7017 (100% Fibonacci extension, horizontal swing low support) where it could potentially rise further to its resistance at 0.7150 (38.2% Fibonacci retracement, horizontal overlap resistance). Stochastic (89, 5, 3) bounced off its support at 0.9% where a further rise could occur.
AUDCAD is approaching its support at 0.9562 (78.6% Fibonacci retracement , horizontal swing low) where it could potentially bounce to its resistance at 0.9673 (50% Fibonacci retracement , horizontal overlap resistance). Stochastic (55, 5, 3) is approaching its support at 2% where a corresponding bounce could occur.
GBPNZD has just indicated a double top formation + RSI bearish cross signal. We enter short with a healthy risk:reward ratio, with 3 main targets. As short-term trend is bullish, we only stay short with momentum and exit on bullish price action near the targets.
- Rejection of monthly of supply zone - Monthly is very bearish - Weekly structure was broken to the downside & now where looking at retest/orders being filled at 1.88 - Daily is forming a inverse head and shoulders something to look out for / still testing resistance * ill be waiting for more bearish conformation to execute this trade. but definitely going...
The AUDUSD pair staged an impressive rally yesterday printing highs at 0.7148 levels before pulling back lower. Please note that in this process, an engulfing bullish candlestick pattern was produced on the 4H chart presented here, indicating a potential reversal. Looking at the wave counts, the Aussie Dollar had produced an impulse rally between 0.7020 and 0.7340...
AUDCAD is approaching its support at 0.9573 (76.4% Fibonacci retracement , horizontal swing low support) where it could potentially bounce to its resistance at 0.9653 (61.8% Fibonacci extension, 61.8% Fibonacci retracement). Stochastic (55, 5, 3) is approaching its support at 2% where a corresponding bounce could occur.
CADCHF is approaching its support at 0.7350 (61.8% & 100% Fibonacci extension , horizontal swing low support) where it could potentially bounce to its resistance at 0.7411 (61.8% Fibonacci extension, 23.6% Fibonacci retracement , horizontal overlap resistance). Stochastic (55, 5, 3) is approaching its support at 0.95% where a corresponding bounce could occur.
As CPI news came this morning for the GBP pairs, we are looking to experience a sell for GBPNZD. tp: 1.839-1.833
EURUSD have been trading in a narrow range compressing channel from over the past few days - it fell quite sharply this morning breaking out the compressing channel base, i am expecting the market to revisit its prior lows around 1.1215. So wait for the market to retest the broken base and consolidation to then shorts. Trade Safe! Good Luck.
AUDCAD is approaching its support at 0.9573 (76.4% Fibonacci retracement , horizontal swing low support) where it could potentially bounce to its resistance at 0.9673 (100% Fibonacci extension , 50% Fibonacci retracement , horizontal swing high resistance). Stochastic (55, 5, 3) is approaching its support at 2% where a corresponding bounce could occur.