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Gbpnzdforecast

GBPNZD WEEKLY: Short-term Bullish and Long-term BearishIn the GBPNZD weekly chart above, GBPNZD sell-off impulsively from its August 2015 high. The decline is in five-wave and labeled as 1-2-3-4-5 in wave (A). Sub-wave of wave 1 of (A) is also visible. Since GBPNZD bottomed in November 2017, it has been in a corrective wave, which is expected according to Elliot Wave Principle. A three-wave correction follows every impulse before the price resume in the direction of the trend. In the case of GBPNZD, the correction seems to be unfolding as a triple zigzag "W-X-Y-X-Z" pattern, and it's almost completed. Price is expected to move higher in wave (c) of Z to complete the major correction. The anticipated area for the completion of the correction is the blue zone that lined up with the upper trend channel + 50% retracement of the entire decline. If this count is correct, the dominant trend is bearish, and once the corrective structure is completed, the market should begin a massive decline in wave (C). Wave (C) target lies below the wave (A) low. What's your thought on GBPNZD? Best, Veejahbee.
by Veejahbee
2
GBPNZD buy on 5HPlan : wait for prices to bounce off trendline support --> 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 like i do, please write it in comment so we can manage the trade together. _____________________________________________________________________________________________________________________ Thank you for your support ;) GWBFX
Long
by GWBFX
6
GBPNZD forecast on daily, long trade setup for 1100 pips!! Note : if you look at my forecasts on 4 december (link below), at this time the trendline resistance has been broken, what we need is just waiting for the dust to settle then BUY ON DIP and surfing with the big waves ;) **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 like i do, please write it in comment so we can manage the trade together. _____________________________________________________________________________________________________________________ Thank you for your support ;) GWBFX
Long
by GWBFX
6
GBPNZD Is At The Down Trend Line BackSide of The Broken Up TL We Have GBPNZD Sitting At The Backside Of The Broken Up Trend Line Right Near The Down Trend Line, The Market Is Already Making Lower Lows And Lower Highs, The Market Already Broke The Counter Trendline In The Sell Zone And Now Its At The Backside of It. If You Take A Look At The Daily You Will Also Find That The Daily Had Recently Formed A Double Top Which Makes The Bearish Direction Stronger. I Will Take My First Profit At The Green Line At The Daily Missed Target.
Short
by ElyaStein