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GBPNZD - Potential Sell Opportunity at Resistance LevelOANDA:GBPNZD is approaching a significant resistance zone, marked by previous strong price rejections. This area has consistently acted as a turning point, suggesting the potential for another bearish reaction if sellers step in. If the price shows clear signs of rejection from this resistance zone, I anticipate a move downward toward the 2.20620 level, which serves as a logical target for this setup. Conversely, a clean breakout above the resistance zone could signal a potential bullish continuation. Traders should monitor for bearish confirmation signals, such as bearish engulfing candles, long upper wicks rejecting the resistance, or increased selling volume before considering short positions. Let me know your thoughts or any additional insights you might have!
Short
by DanieIM
1
COPPER at Key Resistance: Will Sellers Push Toward 4.5230?PEPPERSTONE:COPPER has reached a significant resistance level, marked by prior price rejections and strong selling pressure. This area has historically acted as strong supply, suggesting the potential for a bearish reversal if sellers regain control. If the price confirms a rejection within this supply zone, I anticipate a move downward toward the 4.5230 level. This setup suggests the possibility of a retracement after the recent upward movement. Traders should look for bearish confirmation signals, such as bearish engulfing candles or strong rejection wicks, before entering short positions.
PEPPERSTONE:COPPERShort
by DanieIM
2
CADCHF - Short Setup at Key ResistanceOANDA:CADCHF Is getting closer to a resistance zone that has times before lead to strong bearish momentum. A confirmation of selling pressure, such as a bearish engulfing pattern or multiple rejection wicks at the resistance level, would increase the likelihood of a downward move. If sellers take control at this zone, the pair could move downward, with a target around the 0.63200 level. NOT financial advice - just my view on support and resistance zones, Always confirm your setups and trade with solid risk management! Best of luck! Again!
Short
by TrendDiva
1