GBPNZD - Move BrewingAfter breaking the ascending channel we have seen a slowly down-trending since but it looks like this move is running out of steam now that we have reached a key support level. It is highly likely that price will push down one last time to gather liquidity below this support before it begins to push to the upside.
Gbpnzdlong
gbp/nzd buyHi traders,
price has now created a double bottom on the Daily time frame, on the 1h we can also see its at bottom of structure. Price action should push to test the top of structure now after a continued bearish movement since 21st Oct.
IF top of structure is broken, price should continue to rise to the 0.5 or 0.618 fib region on the daily
GBPNZD - SWING - 17. NOVE. 2020Welcome to our weekly trade setup ( GBPNZD )!
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1 HOUR
Bullish price action with turning candle.
4 HOUR
Overall bearish market turned bullish.
DAILY
Expecting further upside after the current downside trend.
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FOREX SWING
BUY GBPNZD
ENTRY LEVEL @ 1.92520
SL @ 1.91200
TP @ 1.94410
Max Risk. 0.5% - 1%!
(Remember to add a few pips to all levels - different Brokers!)
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Have a great week everyone!
ALAN
GBP NZD buying before breaking resistanceOn DAILY chart, GBPNZD formed a bullish ENGULFING candlestick, shows that the movement is BULLISH for GBPNZD For at least 10 hours from now.
We have no important fundamental news for GBP tomorrow and all effects done by previous news on this chart.
On 4h timeframe a symmetrical pattern happened, which in this case also shows BULLISH breakout.
On the other hand price touched resistance line for structure resistance for 4 times, shows that this time or next movement will 90% break the resistance area and goes for a bullish move,
Because market is so unusual these days, I prefer to risk before breaking the resistance line and i will personally click on buy GBP NZD BEFORE BREAKING AND RETEST.
There is also a double buttom if you see carefully,
Its a nice place for buy j think.
Trade active.
Low rish low reward,
Use proper risk management please.
Like and comment if you agree or not!
GBPNZD long trade ideaPlan: resistance level breakout --> 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.
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GWBFX
GBPNZD OLHC (BUY) POSSIBLE MONTHLY STRUCTUREGBPNZD OLHC (BUY) POSSIBLE MONTHLY
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DAILY TIMEFRAME shows price has also not found support. We waiting on priceline to cross above bloodline to
confirm strong support so we buy. My target will be back to the monthly open if price finds support.
Trade with Caution. Wait for valid entries.
P A T I E N C E + D I S C I P L I N E