Looking for a pullback to the highlighted area which is strong confluence between the rising channel support, a key demand level and the 61.8 fib, as well as the 55 SMA also being in the same vicinity. Looking for a pullback for a long with a target of at least 400 pips to the most recent highs if not further.
This pair has just hit a major supply/demand level at 1.905, looking for a drop and break of minor support at 1.8910 to take along at the confluence between minor support at 1.880 and the upward channel support which goes back to August. I would be looking to take a long back up to 1.90 as a whole number and major area.
at least two violent rejection of the resistance line. since there is no support since the last flip of the pivot point price must push higher and create its support. looking for a clean break through the level, create space and retest the level.
will be blind on the bid.
From the chart, the price is now at the crossroads, it's also a prefect example for technical analysis.
It has already formed a bearlish bat from 2016.07-2016.05, and successfully reached the target price; Now, the D-point is converted to X point and form a bearlish bat again with the potential reversal zone made by 2.24BC and 0.886 XA.
There is also a...
very simple setup: we can see a triple retest of the same level, that is a daily structure level. Every time the price reached that level it did with lesser and lesser strength: therefore i can go short, with stops above highs and targets as shown on the chart here. Remember to take a look at my videoanalysis (link down below) if you want more.
here's a simple pattern technique that's very powerful if used correctly: a flag pattern. On GBPNZD we've recently created a new low, by breaking and closing below the black line. This make me want to short this market, and therefore the next potentially selling place would be the support that's been broken. In this case, as soon as we've touched it,...
this is a simple Gartley formation already completed on 1hr timeframe. Its D completion point lies on a daily structure level and that boost my confidence on the trade because i know this is an area of value also in higher timeframes. Being so, i'm taking a short with stops above highs and targets as displayed above.
If you want to ask questions, feel...
SHORT THIS TRADE AS THE BRIEF UPTREND has has been terminated by recent negative news for GBP. EXIT .74300
Thanks for all the kind messages :)
Like and follow for more trade ideas, entries/exits and technical analysis. As always, trade safe.
here on GBPNZD we're now testing a very important structure area; as you can see on the left hand side of your screen price has already found resistance in that area and it could now turn into support and push price higher. Given the case, i want to be involved on the long side of this pair, hoping for a continuation on the upside. Now, you can use...
Sterling still weak whilst the New Zealand dollar remains strong. Probable bearish continuation, but mindful of heavily oversold level. Expect move to be choppy. First target 1.76375, big long-term target thereafter of 1.70000.
Gbpnzd Formed Strong Support on Weekly Chart. If hold above 1.84 level we can see a jump of 600-1000 pips.
Its for Claim investor who can use smallest lot size. ideal buying level 1.88-1.86 sl level below 1.8450
TP1 1.94 TP 1.99
Risk Management Alert : Below 1000usd 0.02 around 1.88 and pending 0.01 around 1.86 level
GBPNZD is trading in a range now. Chart spiked up for the last hours.
If this little move up continues and comes near the 1.8300 level, we want to see a nice healthy rejection and a possible trendline created so we can short it through the lows or through the trendline break
I will keep this chart updated.
this is the 4hr chart on GBPNZD. The yellow box i've drawn comes from the daily timeframe and it represents the structure zone that i'm paying attention to. Now, as soon as price entered the zone it found immediately some troubles breaking through, and you can say that simply by looking at the wicks. Actually, it has formed a nice double top, with RSI...
As with GBP/AUD, last weeks GBP/NZD weekly candle was just about BULLISH but price currently is 240 pips below the weeks high.
Technically a move down to support at 1.7739 and key support at 1.7696 looks likely adn then we will need to see if this support holds.
If 1.7696 fails (200sma on H4) then a move down to 1.7570 (200sma on DTF) lokms and under that we could...