(1) After the recent drop, the price found support at the weekly trend line, forming wide swings + consolidation range = bearish momentum loss. (2) The price also broke the falling wedge pattern, along with the 50EMA = bullish. add n check (3) To further confirm our short-term trend as bullish, we should wait for a minor structure break on the 15m. However, be...
GBPNZD 1H (1) Price has broke out the trend line + the 50 EMA with one engulfing red candle = very bearish; (2) Then, we can see a momentum breakout of the weekly effective support which now turns into resistance = very bearish as well; (3) Now price pulling back to the broken weekly level, thus forming a triangle pattern = great short setup; Trigger event:...