Double top located. Price rising on decreasing volume. Mac D could be losing momentum. Price may test the previous low up anywhere from 38% to 61% or more. Happy trading!
Price may test the previous low at some point. Previous candle was a doji with above average bearish volume at or nearby a resistance level. Current candle opened lower. Let's see what happens! If price action holds, we may be in store for a nice downside move until price action tells us different. Be patient.
One of the Main Reasons GBP has been going down so much against the NZD is because the NZD has been doing much better against the USD than the GBP has, but now it looks like the NZD's momentum against the USD is fading; and that the USD's Strength against the GBP is also showing cracks. Therefore I believe the GBP will outperform the NZD on many fronts within the...
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GBPNZD on the 4h chart perfectly tested twice the weekly support. The market broke the descending trendline and is now trading below a 4h resistance. How can i approach this scenario? IF the price will break and retest the structure i will check a potential long order according to the Plancton's strategy rules. --–– Follow the Shrimp 🦐 Keep in mind. 🟣 Purple...
GBPNZD We expect the pair to rise, as trading is above the bottom of the first wave at 1.87741 prices, and we also expect the continuation of the rise to end the wave ((iii)) at prices above 1.9600 to end the waves
GBPNZD - Intraday - We look to Sell at 1.9000 (stop at 1.9100) Previous support located at 1.8850. Previous resistance located at 1.8900. Trend line resistance is located at 1.9000. There is no clear indication that the downward move is coming to an end. Risk/Reward would be poor to call a sell from current levels. Our profit targets will be 1.8750 and 1.8700...
GBPNZD on the 4h chart after the recent bounce over the weekly support retraced between the 0.5 and the 0.618 Fibonacci level. The price is now trading above a minor support and. we can expect some bearish price action after the EU market open. How can iu approach this scenario? I will wait foe the break below the support area and when that will happen i will...
The GBPNZD pair has been following exactly our trading plan since our last update a month ago, getting rejected on the 1D MA200 (orange trend-line) and hitting the Higher Lows zone of the long-term Triangle pattern that it has been trading in since the April 02 2020 High: The initial rebound after the August 12 Low is seeing a pull-back in the last 10 days...
The GBP/NZD as predicted in previous Ideas, after a Pullback on the 61.8% Fibonacci Area in confluence with the Resistance Area ( White rectangle ) and the Dynamic Trendline, the price started to turn again bearish following the Main trend, the Downtrend. The Stochastic now is outside the Overbought area and is approaching the decline meanwhile the RSIis...
Hey guys, I recently entered into 2 long term trading positions on GBPNZD. And, as I usually do, I took a couple scalping positions as I monitored the market waiting for those two positions to initiate. You can find the other publishings down below in the related ideas section. Also, this is a scalp trade in my opinion, which I discussed my thoughts on these...
I do not typically entertain intricate/unreliable unit analysis using small timeframes. This is simply because "The closer you look, the less predictable the behavior becomes". I will not be referring to the much more imperative timeframe analysis' (1W, 1M, etc.) that I have drawn up (and partly visible) regarding the GBPNZD on this posting, not sorry....
Take a look at my 1D GBPNZD analysis and also see the contract parameters for the sell orders I placed a couple weeks ago. Also, I took some time to speak about scalp trading (using GBPNZD) in my last publishing, and Im curious as to what people think about it. You can find it in the related ideas section down below. What trades initiated for you this week? Drop...
Short video describing the mechanics of a major reversal trade in the GBPNZD I am positioning for
GBPNZD long term trade looking for a 10.5% upside if 21 day closing price (White MA) move above the 63 day price (Black MA)
Dear All, We are in good point, please manage your risk and enter only in proper Price Action. Brando
GBPNZD - Intraday - We look to Buy at 1.9250 (stop at 1.9140) Previous support located at 1.9350. Previous resistance located at 1.9400. Further upside is expected although we prefer to set longs at our bespoke support levels at 1.9250, resulting in improved risk/reward. A move through 1.9400 will confirm the bullish momentum. Our profit targets will be 1.9475...
The GBPNZD pair is trading below both the 1D MA50 (blue trend-line) and 1D MA200 (orange trend-line) for the past week. This is not an unfamiliar trading set-up as the same W pattern was last seen from October 2018 to October 2019. The last Lower High of the long-term Triangle pattern was on February 03 2022 so currently, in terms of RSI also, we are on the last...