Gbpnzdanalysis
GBPNZD - Week starting ok here with (finally) this drop hereIf you have been following my idea, GBPNZD has been difficult tocatch the last 10 days but finally not just we stayed alive in this position but also opened a critical new one last Friday. Already in the money and making profits with the second and third DCA positions.
Fundamentally:
New Zealand doing AWESOME
GBritain has Brexit and Covid issues atm
...Thus we are selling
GBPNZD: No lift-off = possible dropThe third attempt to break over the resistance was not successful either.
Price is in a descending triangle at the moment and volatility is expected in 9x4h candles = 1 to 2 days)
Will need to manage our positions accordingly and be patient enough to get on a good trade here.
GBPNZD -3rd attempt to flyFurther to our previous idea, this is one of the assets that from our technical analysis shows great potential to rise, yet fundamentally it is not the strongest of trades.
From our experience we prefer to believe the chart than listen to the noise.
3rd attempt can be the one.. let's see what happens now
GBPNZD Top-Down AnalysisHello Traders,
Here is the Top-Down Analysis of GBPNZD (Monthly, Weekly, Daily for direction and 4H for entry) for
Week 49 - Dec 01
M > Market was moving in a rising channel but it broke out channel to the downside last month. Price is currently testing monthly support.
W > Price opened and closed below the channel support hence this level will now act as resistance, though we can see rejection to the upside.
D > Price has been dropping for past 4 days continuously in last week with rejection wick on Friday as the only sign of rejection to the upside. Market tested monthly support again yesterday but closed with rejection to the upside.
As per COT GBP added major Long and few Short, slightly improving net positions, N-R have also added major Long but closed few Short positions, improving cumulative net positions. BXY gained strength during the said period however after gaining further strength last week it closed on a weak note. NZD further added both Long and Short bringing Long to the highest for the year, ZXY has gained strength all of November, it is now testing a major resistance level.
For GBP Institutions have been closing Long since August and increasing their portfolio of Short, about 10K Short added in November. Hence weak GBP can be expected in long term. Whereas NZD has gained massive strength and we can only expect some correction. Hence GBPNZD can consolidate at current level for sometime.
4H > We saw bullish divergence and price has already retraced below 0.382 Fib level on last bullish move. A rejection to the upside from any of Fib level will provide a LH however we expect price to either consolidate or continue to drop.
Pair Correlation: GBPNZD has positive correlation with EURNZD and negative correlation with NZDCHF, NZDCAD, NZDUSD and NZDJPY.
This was my Idea and I hope you find it useful. If you find the analysis of help please leave a LIKE and FOLLOW for receiving all updates during the week. In the comment section share your view or ask questions.
Thank You
AP17FX
GBPNZD BUYING ON DIPS !!!As i see this pair is @ strong support zone and now trading in range so we are expecting it move bullish from this support zone
so we opening buying orders from the given zone and looking foreword for our TP's
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GBPNZD long trade ideaPlan: wait for the price to bounce off from support level --> wait for the rejection candle pattern to form e.g. bullish engulfing, pinbar, etc --> BUY
**Disclaimer** the content on this analysis is subject to change at any time without notice, and is provided for the sole purpose of assisting traders to make independent investment decisions.
Traders!! if you like my ideas and do take the same trade as I do, please write it in a comment so we can manage the trade together.
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Thank you for your support ;)
GWBFX
GBPNZD BUY Trade Idea After the Break.
Please manage your risk. Use Stop loss. And do not take blind entries.
If you have a question let me know. If you want to analyze any pair let me know.
This is just an idea. What we see.
The Market can go in the opposite direction, what we analyze. So we have to manage our risk and adopt the situation accordingly.