NZD/USD - 4HR
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We can see a break of structure, push to the downside and a bearish retest of a key level in the market - our sell confirmation.
Happy Trading. Stay tuned for more analysis
Here we have a simple reject or break situation. Personally, if we do get a break, id be looking to get in on the retest if it occurs, to avoid a false breakout. Shift to the lower time frames to refine entries.
ALWAYS REMEMBER RISK MANAGEMENT. There are too many people on here looking for a perfect trader/strategy, asking for market direction🤦♂️. Here's a quote...
1) Monthly trend is bearish as per ichimoku and 200 ema.
2) Currently trading at range top.
3) Currently structure is sideways.
4) Sell high buy low.
5) Trail to cost when r:r - 1:1
Kindly trade at your own risk.
Good Luck ✌️
This is the idea of my GBPUSD Short/sell - 40 pips
In my analysis, It will fall for bit to grab (40 pips) before it will bounce back up but it might fall more further that depend on the marketing but am expecting bullish sometime soon.
EURGBP is showing good signs on its 4H chart of bearishness and here is why we believe that is so:
Price action on the 22nd of September created a potential bearish candlestick which tested the 38.2% fib of the recent high to low.
Price action is also potentially creating a lower high and I would not expect price to head above (close) the 30% fib, if it does,...
Waiting for it to reak out of the resistance zone and create a bullish engulfing/shooting star candle to place then aim for previous high support levelif it breaks lower level ill wait to see if support zone becomes resistance zone then think about a different entry to the downside or possibly wait for it to break upwards
on 1hour time frame its showing an uptrend and formed an engulifing candlestick pattern to support uptrend. and lower down on the 15 min time frame it is showing signs of breaking resistance and forming as a support for a short uptrend.
EURGBP has found substantial support just above the 0.91000 even-handle number. Price is ranging above the level and then Daily structure shows that the Bullish outlook on the pair is probable as the structure remains Bullish. We can expect EURGBP to find enough liquidity to retest June's High this year at around 0.91754. We can look to go Long if the 4H breaks...
If EURUSD breaks the recent Higher High on the 4H, retests and shows strong bullish rejection, we can see EURUSD going up.
EURUSD can also go bearish due to the upper wicks on the last couple of Daily candles, but Daily and 4H Bullish structure are still intact.
PS: This is only a probability of the pair, moving to the upside. Analysis and trade is due to...
Evidently there has been a breakout of a channel which could allow for a potential long trade with a good R:R. Also there seems to be a bearish engulfing candle on the 4 hour time frame at a supposedly strong zone, but unlike previous rejections at that zone, the momentum to the down side is not as strong which may be confirming the bullish bias.