GBPNZD TRADE UPDATELooking at how price action is reacting we can see that the sells are still much valid, fingers crossed today will be a good way to end the week.
NZDGBP trade ideas
GBPNZD - SELL!This is one of those picture perfect set ups. Head and Shoulders, support turn resistance and now just waiting for a break of minor structure but getting in a sell position
GBPNZD 05/09/2024Weekly:
-Weekly highs.
-Bearish W pattern.
Daily:
-Bearish W pattern.
-H&S pattern.
-IC.
4H:
-Bearish W pattern.
-H&S pattern.
-IC.
GBPNZD 30min SELL PROJECTIONBased on the market structure both on my higher timeframe and lower timeframe, i can see price setting up pretty nicely for a downward movement... NOTE that this is my own opinion and analysis. Before you make any decision do well to make your own research..
Gbpnzd for buyBreakout from the trendline and the major zone indicate a change in trend. Candlestick pattern alo played out on the major zone.
GBPNZD buy signal. Don't forget about stop-loss.
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P.S. I personally will open entry if the price will show it according to my strategy.
Always make your analysis before a trade
Buy OpportunityCurrency Pair: GBPNZD (British Pound / New Zealand Dollar)
Entry Price: 2.12230
Take Profit 1: 2.13373
Take Profit 2: 2.15644
Stop Loss: 2.11034
Technical Analysis
Current Market Conditions:
Trend Analysis: Assess the current trend on the daily and hourly charts. Look for higher highs and higher lows to confirm an uptrend. If the overall trend is bullish, this supports the buy position.
Support and Resistance: Identify key support and resistance levels. Ensure that the entry price is positioned favorably relative to these levels.
Technical Indicators:
Moving Averages: Check for alignment with the moving averages (e.g., 50-day and 200-day MAs). A bullish crossover can be a positive signal.
Relative Strength Index (RSI): Monitor the RSI to ensure the currency pair is not overbought or oversold. An RSI level around 50 is generally neutral.
MACD: Confirm if the MACD line is above the signal line, indicating bullish momentum.
GBPNZD short tradelet’s dive into a bearish technical analysis of the GBPNZD H4 chart.
Bearish Indicators:
Trend Analysis:
The overall trend on the H4 chart has recently shifted from bullish to bearish1. This is indicated by a series of lower highs and lower lows forming on the chart.
Moving Averages:
The price is trading below the 50-period and 200-period Exponential Moving Averages (EMAs), which is a strong bearish signal2.
Relative Strength Index (RSI):
The RSI is currently below 50, suggesting bearish momentum2. If it continues to drop towards the oversold region (below 30), it could indicate further downside potential.
MACD (Moving Average Convergence Divergence):
The MACD line is below the signal line, and both are below the zero line, which confirms the bearish trend2.
Support and Resistance Levels:
The price is approaching a key support level around 2.1100. A break below this level could lead to further declines1.
Candlestick Patterns:
Recent candlestick patterns, such as bearish engulfing patterns, have been observed, indicating strong selling pressure1.
Potential Bearish Targets:
First Target: 2.1100 (near-term support level)
Second Target: 2.0950 (next significant support level)
Risk Management:
Stop Loss: Consider placing a stop loss above the recent swing high to manage risk effectively.
GBPNZD still in bearish phaseafter marking the new LL the price is now retracing and getting rejection from the fib .5 level which is an indication that from there price will fall down
GBPNZD Low Probability +430 pipsLow Probability trade looking to sweep the daily high's on 15/08/2024 @ 2.15026 following with an imbalance from the previous months.
GBPNZD=SELLA regular flat has formed on 4 hours giving as a complete structure for a sell.
Let see how it goes
GBPNZD Will Go Down! Sell!
Take a look at our analysis for GBPNZD.
Time Frame: 6h
Current Trend: Bearish
Sentiment: Overbought (based on 7-period RSI)
Forecast: Bearish
The market is trading around a solid horizontal structure 2.120.
The above observations make me that the market will inevitably achieve 2.110 level.
P.S
We determine oversold/overbought condition with RSI indicator.
When it drops below 30 - the market is considered to be oversold.
When it bounces above 70 - the market is considered to be overbought.
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GBPNZD: Bearish Forecast & Outlook
The charts are full of distraction, disturbance and are a graveyard of fear and greed which shall not cloud our judgement on the current state of affairs in the GBPNZD pair price action which suggests a high likelihood of a coming move down.
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GBP/NZD For Bearish after finishing its Correction waveGo Short Now
- General Trend is Down Trend
- Price Finish its Correction wave at red arrow
- its best position to sell nearby resistance area
have fun :)
GBPNZD(Short)Turtle soup and Smart Money Concept Trading Strategy
The Turtle Soup strategy, however, flips the script, aiming to profit when those anticipated trend.
Linda Raschke’s Turtle Soup strategy is a counter-trend trading approach that capitalizes on failed breakouts.
ENTRY :- SELL -Above opening price (daily) BUY - Below opening price (daily)
STOPLOSS :- above or below recent swing High
1st TARGET :- Book profit 50%
2nd TARGET :- Book profit 25%
3rd TARGET :- Book profit 25%
Consisitency and hard working is the key of success.
KEY OF SUCCESS :-
*) Buy below opening price of Daily Candle AND Sell above opening price of Daily Candle.
*) Do not take risk more than 1% of Equity.
*) Take Profite Should be More then 2% of Equity .
*) Book 50% profit of running trade first and remaining 50% hold for long term.
GBPNZD (Short)Turtle soup and Smart Money Concept Trading Strategy
The Turtle Soup strategy, however, flips the script, aiming to profit when those anticipated trend.
Linda Raschke’s Turtle Soup strategy is a counter-trend trading approach that capitalizes on failed breakouts.
ENTRY :- SELL -Above opening price (daily) BUY - Below opening price (daily)
STOPLOSS :- above or below recent swing High
1st TARGET :- Book profit 50%
2nd TARGET :- Book profit 25%
3rd TARGET :- Book profit 25%
Consisitency and hard working is the key of success.
KEY OF SUCCESS :-
*) Buy below opening price of Daily Candle AND Sell above opening price of Daily Candle.
*) Do not take risk more than 1% of Equity.
*) Take Profite Should be More then 2% of Equity .
*) Book 50% profit of running trade first and remaining 50% hold for long term.
