Hello Traders and everyone, I am Hadi Karaali, Known as SNIPERS_FX
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GBPNZD BULLISH REVERSAL FORMED!
As we can see price is sitting around a strong support zone lining up with our previous major highs and low, then we will be looking for new longs.
Meanwhile, price is still clearly bearish from a short-term perspective, making clean lower lows and lower highs.
Moreover, price is forming a nice-looking inverse Head & Shoulders pattern, and then for the bulls to kick in from a short-term perspective, we need a break above the marked major neckline, then a movement higher would be expected.
And as usual 1-2 risk to reward ratio from a risk management perspective if this scenario was completed.
If you like this kind of analysis don't forget to like and follow
and as usual follow your trading plan and manage your risk.
Be patient and good luck!
If you like the idea, do not forget to support with a like and follow.
GBPNZD BULLISH REVERSAL FORMED!
As we can see price is sitting around a strong support zone lining up with our previous major highs and low, then we will be looking for new longs.
Meanwhile, price is still clearly bearish from a short-term perspective, making clean lower lows and lower highs.
Moreover, price is forming a nice-looking inverse Head & Shoulders pattern, and then for the bulls to kick in from a short-term perspective, we need a break above the marked major neckline, then a movement higher would be expected.
And as usual 1-2 risk to reward ratio from a risk management perspective if this scenario was completed.
If you like this kind of analysis don't forget to like and follow
and as usual follow your trading plan and manage your risk.
Be patient and good luck!