SHORT - GBPNZD (WK D H4) (26 May 2023)

SWING TRADE - GBPNZD

This is another interesting pair to watch.

In Monthly, it has been ranging

In Weekly, price has been tested around Jan 2022

Hence, price is again reaching the same supply zone
- To watch closely whether price will react again and SHORT opportunities can present itself in lower TFs i.e. Daily and H4

Comment:

Price has reached WK supply zone. However, it has done nothing significantly in terms of price action to act upon.

Hence, more observation is needed in the D1 and H4 TF for confirmation before anything can be done

Comment:

Comment:

Price is expected to pierce deeper into the Monthly supply.

Hence, there is a potential SELL zone in D1 chart.

A pending SELL limit order has been placed on 1 June 2023

Trade active

Trade closed: target reached:

Trade is closed and a new analysis will be done.