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Gbpnzdidea

forex | GBPNZD multi timeframe analysis - long term sell tradelearn how to trade support and resistance with psychology trading areas ________________________________ starting with the monthly time frame we notice that we are in a strong downtrend so, we trade with the trend and start searching for selling opportunities. and we found that the price moving in sideways so, in this condition, we follow support and resistance strategy. moving down to the weekly chart, which confirms the support and resistance area. the daily chart we are in a clear uptrend so searching for selling opportunities is so risky right now. so we have to align our analysis with the COT report and draw an uptrend in a smaller time frame like 4hr chart and waiting for a break-out then we start selling with low risk.
Short
by UnknownUnicorn9076755
forex | GBPNZD multi timeframe analysis - long term sell tradelearn how to trade support and resistance with psychology trading areas ________________________________ starting with the monthly time frame we notice that we are in a strong downtrend so, we trade with the trend and start searching for selling opportunities. and we found that the price moving in sideways so, in this condition, we follow support and resistance strategy. moving down to the weekly chart, which confirms the support and resistance area. the daily chart we are in a clear uptrend so searching for selling opportunities is so risky right now. so we have to align our analysis with the COT report and draw an uptrend in a smaller time frame like 4hr chart and waiting for a break-out then we start selling with low risk.
Short
by UnknownUnicorn9076755
2
GBPNZD Elliot wave analysis in H4 GBPNZD Elliot wave analysis The fundamental factors has played key role in the recent downtrend in GBPNZD as the pandemic situation in England got worse and the economic condition in New Zealand was also in trouble and in some countries they re imposed some minor restrictions.Today the RBNZ has leave the rate unchanged this causing the further selling of GBPNZD in coming days. We can clearly see the price movement was within a broad rising channel and its about to reach the lower side of the trend line. And i am expecting further downside breakdown in coming days. Currently the Wave 02 was completed and Third major wave was underway.We can see a bearish engulfing pattern in 4 Hour time frame 1.94550 would be a desirable entry point for bear.The main bearish invalidation point was 1.97530
Short
by forexorbit