Get started

Gbpnzdanalysis

GBPNZD Short OpportunityMarket Structure is KING! Hey, if you like this idea be sure to support with a like and a follow. Here is my analysis for GBPNZD for the upcoming week, wait for price to pullback to retest resistance and take a short down to the next support area . What are your thoughts? Leave it in the comments below! Blue Signal FX Rules-Based Trading 1. CHECK THE NEWS! 2. WHAT IS THE OVERALL TREND? Market structure will give you direction. 3. IS PRICE AT A LEVEL OF SUPPLY OR DEMAND (SUPPORT OR RESISTANCE)? 4. IS PRICE APPROACHING A LEVEL OF SUPPLY OR DEMAND (SUPPORT OR RESISTANCE)? 5. ARE YOU TRADING WITH THE TREND OR AGAINST THE TREND (MAKE SURE YOU ONLY TRADE AGAINST THE TREND ON THE 4HR TIME-FRAME AND ABOVE. 6. CHECK FOR DIVERGENCE.
Short
by bluesignalfx
GBPNZD | Perspective for the new weekThe GBPNZD pair seems to be on the edge of a cliff and it appears to be on the verge of tumbling down into 50 to 78.6% retracement in anticipation of a bullish trend continuation. How do we take advantage of this counter-trend opportunity without getting our fingers burnt? Tendency: Downtrend (Bearish) Structure: Supply & Demand | Trendline | Reversal pattern (Double Top) Observation: i. Since November 2021, the Pound recorded approximately 9% growth against the Kiwi to set the tone for bullish momentum. ii. The visual representation of a line drawn under pivot lows reveals the prevailing direction and speed of price action in the last 3 months. iii. However, multiple rejections of N$2.05 since January 28th signals the possibility of price action transposing into a correction phase that might dip into 50 to 78.6% retracement before the rally continues. iv. The multiple rejections at N$2.05 evolves into a double top look-alike which is an extremely bearish technical reversal pattern that forms after action tests a new high two consecutive times with a moderate decline between the two highs with confirmation of structure at a break below a support level at N$2.025. iv. Coupled with the reversal pattern, we also witnessed a breakdown of the bullish trendline during last week trading session to give credibility to my bearish bias. v. In this regard, below the key level at $N2.025 remains a comfortable area to take on a short position as I strongly anticipate a breakdown/retest of this level in the coming week(s)... Trade consciously!😊 Trading plan: SELL confirmation with a minimum potential profit of 500 pips. Risk/Reward : 1:4 Potential Duration: 7 to 20 days NB: This speculation might be considered to make individual decisions on the lower timeframe. Watch this space for updates as price action is been monitored. Risk Disclaimer: Margin trading in the foreign exchange market (including commodity trading, CFDs, stocks etc.) has a high risk and is not suitable for all investors. The content of this speculation (including all data) is organized and published by me for the sole purpose of education and assistance in making independent investment decisions. All information herein is for your reference only and I take no responsibility. You are hereby advised to carefully consider your investment experience, financial situation, investment objective, risk tolerance level, and consult your independent financial adviser as to the suitability of your situation prior to making any investment. I do not guarantee its accuracy and is not liable for any loss or damage which may result directly or indirectly from such content or the receipt of any instruction or notification therewith. Past performance is not necessarily indicative of future results.
Short
by darcsherry
GBPNZD Possible Target is Available!Hello Fellow Traders, I hope That Everyone Follows This Forecast To make some big Profits! Here is a Full Updated Analysis & Forecast For GBPNZD. The Best way to follow my Analysis is if the following conditions apply. Conditions - 1. Wait for the Market to Show you some Rejection / Confirmation / Direction 2.Wait for confirmation(Price Action Confirmation Aka . Pinbar , Bullish or Bearish engulfing / Break of structure Aka Support Or Resistance) 3.Do your Own analysis! (Draw Trend Lines / Support & Resistance Zones / SND ) 4.Always Use Risk Management (Risk 1% of your capital) 5.Entry Should be Made on The 4H Timeframe (Only if you have Confirmation) 6.Trade at own risk. Let Me know if you have any Questions or Comments Below! Please Support My ideas & Educational Posts with a Like and Comment ❤️ See You in the next Analysis! Global Fx Education
Short
by Global_Fx