1. The GBP fundamentals are stronger than the NZD one.
2. A swing reversal point may be reached on the daily structure.
3. Intraday entry from the dynamic support (Bollinger bands).
In a short term I expect the correction wave continues down to 0.318 fib crossing the support level, which is @ 7411.
Later the reversal is expected to happen, with targets @ 9881, which is 0.682 fib of the correction wave and the price will go out of the triangle and rapidly continue its movement up to 13900, which is the next anchor level.
However, this is a...
BOQ is backed with a trend line and seems to follow it.
Price destination is clearly visible: it is 0.618 fib ret.
If something goes wrong there is a support level @ 0.382, put stop right under it.
RSI is positive.
CSL seems to fall a bit (in short-time term) but then consolidate and move up from 0.236 fib ret level.
Stoch chart shows it is overbought, then a fall is expected.
By the way, this security has a great long potential according to its fundamentals.
Positives:
1. Previous RSI divergence happened
2. MACD positive
3. Uptrend seems to be started
Key decisions:
1. If price goes down, there is a large support zone @ 34.74, so put my SL right behind it
2. If price goes up, the next resistance zone is @ 36.80
Positives:
1. There is very strong support line (2h-4h)
2. RSI positive
3. MACD positive
4. Price just crossed the fib ret level and ready to repeat uptrend movement.
Good chance to take quick profits.
There is a strong support zone starting @ 9.01.
Once the price reaches this zone, I expect it changing its direction up to the first resistance zone @ 9.78
The trend change is also acknowledged by a RSI divergence and a double bottom. Expecting for 3rd and jumping in.
In this particular case the stop might be very short (right under the green support zone @9.01),...
For:
1. Constant and strong day trend
2. Seems to reverse at support zone which around 0.5 fib ret
3. MACD is positive
4. RSI is also positive.
Against:
It is better to wait for the candle in the long direction to acknowledge the movement before entry.
Not a financial advice.
A good security movement backed with strong week uptrend, just passed 0.382 fib ret on its way up. Additionally, price is at the bottom of a week parallel channel.
Putting stop as usual, 6 points below the support zone.
Consideration: uptrend movement continues up to the T1 point (11.41) and finishes at T2 just before the Earnings.
Not a financial advice.
