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Gbpnzdlong

GBPNZD Sets To Complete Bullish Zigzag PatternSupport this analysis with your likes and comments! GBPNZD 4-hourly chart above reveals what can be seen as a five-wave impulse pattern, labeled (1)-(2)-(3)-(4)-(5). According to the EW theory, impulses show the direction of the larger trend and a three-wave correction follows every impulse pattern. In GBPNZD's case, the correction unfolded a (w)-(x)-(y) double zigzag pattern. The pullback seems to have completed as it rejected a swing level, contained with a channel, and drop bullish price action signals. According to Elliot Wave's theory, once a 5-3 (impulse-corrective) cycle is completed , the market should resume in the direction of the impulse which is bullish in GBPNZD case. The break of the green line will confirm that the bulls have takeover. The red line is the invalidation level for this setup. Targets above wave "a" high is plausible in the days ahead. What's your view on GBPNZD? Let me know in the comment! Thanks, Veejahbee.
Long
by Veejahbee
3
GBPNZD Top-Down AnalysisHello Traders, Here is the Top-Down Analysis of GBPNZD (Monthly, Weekly, Daily for direction and 4H for entry) for Week 41 - 05 Oct M > Market is moving in a rising channel. Price reached support of trend line and also monthly support and faced rejection. W > Price is now testing weekly resistance level. D > Price created a W formation and with dragonfly candle price dropped to test the neck and complete formation. Price should now continue with its upward move. Daily chart suggests us three bullish targets, next two supply zones and finally the resistance zone. As per COT GBP saw closure of Long and addition of major short positions bringing net position to -ve, whereas N-R saw closure of both Long and Short, Commercials saw addition of Long and closure of Short. BXY was weak for the said week but it improved its position last week. NZD saw addition of few Long and more Short reducing net positions, confirming weakness of NZD for the said week. ZXY improved its position last week. 4H > Though price has not broken last HH but it has definitely started moving up after testing the neck of W formation and this gives us start of bullish trend. Pair Correlation: GBPNZD has positive correlation with GBPAUD, GBPJPY, GBPCAD and GBPCHF and negative correlation with EURGBP, NZDCHF and NZDCAD. 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 you can share your view and ask questions. Thank You AP17FX
Long
by AP17FX
1
Idk what the fundementals are going to do lol GBPNZD Hoping to catch a long Average true range per day is around 150 pips Lower bound of the true range is around 100 pips Set ups 6:1 E 1.92085 SL 1.91935 15 pips TP 1 1.92685 60 pips TP 2 1.92885 80 pips TP 3 1.93085 100 pips hoping to enter on a pull back I love my shorts but sometimes you gotta buy Tradingview is my personal journal so if you lose it's on you homie THIS IS NOT A RECOMMENDATION YOU WILL LOSE MONEY
Long
by Jean-Louis-jammalbmp4ua2f9r
GBPNZD - SWING - 21. SEPT. 2020Welcome to our weekly trade setup ( GBPNZD )! - 1 HOUR Bullish pressure right now, good shortterm long setup! 4 HOUR Overall sideways market structure in smaller tf. DAILY Expecting prices to push towards previous resistance zone. - FOREX SWING BUY GBPNZD ENTRY LEVEL @ 1.91860 SL @ 1.90810 TP @ 1.93480 Max Risk. 0.5% - 1%! (Remember to add a few pips to all levels - different Brokers!) Leave us a comment or like to keep our content for free and alive. Have a great week everyone! ALAN
Long
by DACapitalTrading
42
GBP NZD is at monthly support Welcome! What's up traders! Thanks for Jumping on my Analysis, 👨💻 Hit the thumbs up 👍 and support the work. Follow the trade plans and notes. Make up your own trade setup and make sure you meet with the required confirmations first, before you make your move! Traders Disclaimer: None of our analysis or trade setups which is shared here on the trading view is trading advice. Trade Setup i) we had a long downtrend towards monthly support. ii) The Green lines indicate the Accumulation process on the chart. Notice that the last two bottoms are increasing. This confirms that the market might be accumulating at this point. The breakout through the upper level of the Accumulation range confirms the end of the Accumulation and the beginning of the uptrend. iii) Cureently market is in Wyckoff spring point, a perfect Wyckoff trading strategy.. iv) we can enter long once market breakout of the green line with SL below Wyckoff spring. please comment if you have a better idea.
Long
by Fazm
6