GBPNZD | Perspective for the new week

This is a follow-up detail on my previous analysis as my bearish expectation appears to be intact (check the link below on my tradingview platform for reference purposes). This video explains how I plan to take advantage of a trend continuation to the downside with a caveat.

Risk Disclaimer:
Margin trading in the foreign exchange market (including commodity trading, CFDs, stocks etc.) has a high risk and is not suitable for all investors. The content of this speculation (including all data) is organized and published by me for the sole purpose of education and assistance in making independent investment decisions. All information herein is for your reference only and I take no responsibility.
You are hereby advised to carefully consider your investment experience, financial situation, investment objective, risk tolerance level, and consult your independent financial adviser as to the suitability of your situation prior to making any investment.
I do not guarantee its accuracy and is not liable for any loss or damage which may result directly or indirectly from such content or the receipt of any instruction or notification therewith.
Past performance is not necessarily indicative of future results.

Trade active:

We remain patient to see how price action evolves especially within or around the selling opportunity zone we identified in the video.

Good morning

Comment:

Take note that we are within the 61.8% retracement of the previous impulse leg. If we notice a reversal pattern in the lower time frame, it will be mature to take a position even if the price does not enter our selling zone.

Comment:

We are right within the selling zone... we want to see a reversal pattern to join the decline.

Let's see how price plays out as a breakout/retest of the bearish trendline negates or selling potential.

Trade active:

We now have a reversal pattern in the form of a double top structure with a breakdown retest of the neckline which is also the key level at 1.94000 to confirm the potential downtrend structure

good morning

Trade active:

Over 100pips running in profit; we want to be locking in some profit now

Good afternoon to you

Trade active:

We are still on track despite being caught within a consolidation phase in the last 9 hours. I look forward to a breakdown/retest of the 1.92750 to add more positions to my existing trade.

Good night

Trade active:

With over 200pips running in profit with multiple entries; we finally had the opportunity to add to our existing position at the breakdown/retest of 1.92750 level. Locking in some more profit.

Good morning

Trade closed: target reached: