GBP/NZD Long we have impulse wave then correction with hold price above a horizontal support then broke a simple trendline
Gbpnzdlong
GBPNZD - Bat Pattern Forming SOON!Bat patterns on GBPNZD are very profitable on the 4H timeframe.
- Entry: 1.96189
- Stop Loss: 1.97407
- TP1: 1.94499
- TP2: 1.93456
I have set a limit order at my entry price. If price moves against me I will trail my take profit levels in accordance with the 38.2 and 61.8 retracement levels from the low of the pattern to the current price level.
If the pattern is invalidated before hitting my entry limit order, I will delete the order.
Gbpusd strateji I expect the price to move to 1.33 after the bottom formation is completed around here.
GBPJPY longthe gbpusd has created a rally since the previous lows while creating a double bottom 'on higher TF' so now it is currently going sideway treen on thos lower timeframe in which its gonna break soon as it jump higher.
GBPUSD: Buy with a target of 1.213
From a technical perspective, the 4-hour triple bottom pattern has already emerged and has overcome the short-term pressure at 1.202. Currently, it is fluctuating within the range of 1.213-1.192.
The bullish strategy remains unchanged, with continued buying at lower levels.
The initial target is around 1.206, followed by 1.213. When the price approaches 1.213 again, I believe there is a high probability of a breakthrough after a long period of consolidation.
Therefore, I maintain the trading strategy of buying at lower levels.
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UPDATE GBPNZD - Still in play but the warning is concerningW Formation formed and broke above.
The big warning and problem is that there was low volatility and the market was moving in a continued sideways range.
This is concerning because the buyers are not too strong which is why we now had a large bearish engulfing candle showing how the sellers are running the show.
7>21 but <200MA
RSI <50 - Turned bearish
Target 2.000
But this is still a medium probability trade
Outlook for GBP/USD trendThe GBP/USD rebounded 80 points during Wednesday's Asian session but then fell back after the European market opened. The previous rise may have been due to improved risk appetite, as better-than-expected Chinese manufacturing data boosted market optimism. However, it remains to be seen whether this situation will continue and needs to be closely monitored.
Data shows that UK mortgage approvals for January continued to decline (39,600, down from 40,500 in December), marking the fifth consecutive monthly decline and the lowest data since January 2009 (excluding the Covid pandemic period). Personal mortgage net lending also dropped from £3.1 billion to £2.5 billion in January due to rising interest rates and tighter lending policies, which continue to impact consumers. Additionally, Bank of England Governor Andrew Bailey said, "I want to remind people not to think that we have done with interest rate rises or that we will inevitably need to do more", although his comments were somewhat ambiguous. He stressed the need to assess the impact of measures already implemented on the economy.
The "Windsor framework" agreement recently reached between the UK and the EU gave the pound some momentum but has been difficult to sustain. Part of the reason may be that the agreement has little impact on the UK economy and does not improve trade conditions between the UK and other regions of the EU. A recent Bank of England survey showed that Brexit is no longer the main uncertainty factor for UK businesses, with 52% of respondents seeing it as just one of many future challenges.
Later on Wednesday, we will see US ISM manufacturing PMI data, and if it exceeds the predicted 48, the US dollar index may gain some momentum. However, the author does not expect any significant impact, and Friday's ISM service sector data may provide more volatility.
On the daily time frame, the GBP/USD remains sandwiched between moving averages, with the 50-day moving average providing resistance and the 100-day and 200-day moving averages forming a golden cross to provide support. On Tuesday, the GBP/USD attempted to break through the 50-day moving average but failed, recording a shooting star, but there has been no downward follow-up yet. The GBP/USD is currently testing the top of a descending wedge but has failed to break through.
Given the nature of the current market and risk appetite, the exchange rate could easily remain range-bound in the short term and may require a catalyst to help it break through. Closing above the 1.2100 level on the daily chart may give potential longs more confidence. On the other hand, if the daily close is below the wedge or the 100 and 200-day moving averages, further pressure may be expected.
GBPNZD im looking to buy at 1.9607 zone, this is a simple break and retest, Be patient wait for the h4 candle to retest to our zone before looking to buy for better R.R we had a strong previous h4 bullish close above the zone, and if you look at the HTF, you'll notice we've wiped out the weekly highs looking left
GBPNZD - Long from bullish order block ✅Hello traders!
‼️ This is my perspective of GBPNZD .
Here we are bullish from H4 timeframe perspective, so I am looking for longs. I see price to make the retracement and then to reject from bullish order block + institutional big figure 1.93000.
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GBPNZD LONG - STRONG CONFLUENCE!Waiting for a pullback to retest 1.91995 to long GBPNZD back up to 4H highs at 1.95023.
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📌 Potential BUY setup for: GBP/NZD👩🏽💻Technical: The price is currently on a higher time frame pullback, and the daily chart is forming a strong bullish engulfing candlestick, attempting to break MAs. The price has a strong psychological zone @1.95000.
🎯 For an ideal entry: To confirm the bullish bias and potentially target the 4-hour previous high, wait for the 4-hour candlestick to fully close above MA 20. Otherwise, no break - no entry.
GBPNZD - W Formation but very weak signalW Formation has formed on the GBPNZD BUT it is a very weak signal.
The price action is clearly sideways and this traps a lot of traders into buying the breakout.
What tells me this is the LOW volatility which should signal a warning.
Also we have mixed signals with MAs 7>21 but <200MA
RSI >50 - bullish
Target 2.000
I call this a LOW probability setup and one I wouldn't actually take. But for the risk takers, they can with pleasure.
GBPNZD - Bearish price action ✅Hello traders!
‼️ This is my perspective on GBPNZD.
Here we can see that price took buy stop liquidity, formed a normal divergence and rejected from institutional big figure 1.93000, so I am looking only for shorts.
‼️Attention!!! Due to the fact that we have news events on GBP & NZD this week, the analysis can be invalidated.
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Bullish GBPNZD to top of regression channelGBPNZD finally broke the low volatility creep and dropped to the bottom of the downward regression channel. Looking for momentum confirmation to the upside before entering for a move back to 0.618 (~1.919), the top of the channel. Then we'll see if it can break out and move higher. Despite recent relief from Fed, I see generally bearish conditions (i.e. lower highs incoming) for both SPX and EURUSD on monthly timeframe.
GBPNZD dips continue to attract buyers.GBPNZD - Intraday - We look to Buy at 1.8950 (stop at 1.8875)
Previous support located at 1.9000.
Previous resistance located at 1.9100.
Price action has continued to trend strongly lower and has stalled at the previous support near 1.8950.
Risk/Reward would be poor to call a buy from current levels.
A move through 1.9100 will confirm the bullish momentum.
Our profit targets will be 1.9150 and 1.9190
Resistance: 1.9100 / 1.9200 / 1.9250
Support: 1.9000 / 1.8950 / 1.8900
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GBPNZD Buy Signal With Price ActionIf price can move into this range during the London session, I will purchase GBP/NZD. For me, the London Session starts at 6:00am UTC.
GBPNZD LONG - REVERSAL TIME!Waiting for a break and retest of 1.91484 to long GBPNZD back to swing highs at 1.93743
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GBPNZD - Short after filling the imbalance ✅Hello traders!
‼️ This is my perspective on GBPNZD .
Here we are in a bearish market structure from H4 timeframe perspective, so I am looking only for shorts. I expect price to continue the retracement to fill the imbalance higher and then to reject from institutional big figure 1.91000.
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gbp short is goodgbp is in a falling trend, here after forming a dp Im ready to see a fl (a pullback to engulfed fl) after this pullback price is ready to short to origin and then I think there would be rising triggers for long gbp
GBP/NZD (05/02/23) Short term longsGBP/NZD LONG IDEA
Trend: Bearish
Liquidity towards the top side
Short term play before sells
With such a distance for my sells. We obviously need to see some short term buying pressure towards my point of interest.
Will look for confirmation on a lower timeframe.
GBP/NZD Potential Buy Setup - London Session EntryI am taking a buy on GBP/NZD if price can get into this area in the london session. London Session for me begins at 6:00am UTC Time. Invalidation would be if price gets into this area after london session close (11.01AM) UTC Time.
GBPNZD 28-03 [FEB] Analysis - Falling wedge for a 100 pip longThis falling wedge formed during the recent 1H uptrend may indicate a long break out of 100 pips. This analysis further supports my earlier monthly analysis of a descending triangle testing 4H support for a potential long.
