FX:GBPNZD   British Pound / New Zealand Dollar
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1
This setup using 3 technical analysis .

1.An aligned acceding channel with candle stick.
2.A force that move the candle stick.
3.A Fibonacci support level for an entry level, This entry use 0.236 (1.94055) level of a recently price structure.

In my point of view, at current stage candle seem to stuck at the support/resistance line (SL Line) after the weekly close. This create a probability of re-traced down a bit before move up to form Higher-high (HH) as shown on chart. I believe since the channel of and the pattern of the chart are well form and clear it is a good uptrend.

My Long Configuration::
Long Entry @ 1.94000 (This number come from a round-up number of support line as well as from Fibonacci level)
SL :: @ 1.9255 (This number come from a swing-low of pattern that bound form the SL Line as shown in "red smiley face")
TP :: @ 1.99035 (This number come form last swing-high as shown in "pink smiley face" as well as form fibonacci level of 0.618(1.99147) )

Comments

I am expecting first drop to 1.87 - 1.88 and then an uptrend over many months...
+1 Reply
Kevabatai Sinuhet


Yes, it would like to have price move down too, it is mean i could get in cheaply, But from my additional chart this could take a while, and need to wait for a next swing a bound from 2.0 perhaps?
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ZAMBOO Kevabatai
yes i know, 1 brought this pair at 1.8934 at 100k instead of monthly chart look at weekly your see better look base at 1.9000 has been form know from here nothing but up swings
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Thank you for your idea and advice, I normally trade GBPUSD. Im just try to get in this pair a feel day now, in processing of searching for a support and resistance and fine a normally movement range. I use 4H for a scalping sometime, it could get me 30 - 40pip a day. that really nice for me. :D

The way people, could discussed, regarding to investment pair is the best. I really love this website.
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this pair is eyeing the 2.1000 the real resist. the double is at the 1.8800 level on monthly chart the long hual is 2.2500 area
+1 Reply


You are absolutely right, This pair is keep pushing up-ward. and it would properly test 2.1000 in a few month. As well as there is a "Bullist Engufing" out off support level this weekly closed chart. Which, indicate that in the next week this pair will keep moving and form a higher-high very soon.

Thank for your advice advice my analysis would be more complete and even clearer.
Reply
This idea is not a good one anymore.. since GBP is broken far more than expect, and NZDUSD is break too a new high... I believe this trade idea is not a good choice.



check this idea for discussion.
https://www.tradingview.com/v/s5e6BnQT/#tc85253
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