We see the formation of a harmonic butterfly pattern (blue) and the completion of an ab=cd pattern on the 4 hr chart. The completion of the ab=cd pattern signaled us to sell the pair and our strategy is to trade the 4th leg of the butterfly pattern . Price action has already stated confirming our strategy since we initiated the position.
As can be seen from the graph above, there is strong resistance in 1.97, The pound has already tried twice to break this resistance without success, in our opinion he(#GBP) is going to try this resistance again for the third time, This is one of the reasons for our buying recommendation
Buy GBPNZD:
Take Profit: 1.9670
Stop Loss:1.9250
Hello good people.
GBPNZD already making good pips. I am expecting the price will go up a little bit more with
Take Profit level 1 : 50%
Take Profit level 2 : 80%
Lets wait and see shall we. Goodluck!
Regards. AK.
Hello good people.
I am looking for rejection in the box for the confirmation the price going up. As for now, trendline breakout already happened. A little pullback will be occur, then I will try to enter slowly. Good luck for this week!
Regards. AK.
guys watch out for this and dont miss the short that is coming
See previous analysis
PLEASE SUPPORT THE MOVEMENT WITH YOUR LIKES, COMMENTS AND FOLLOW FOR MORE
I AM WAITING FOR THIS SORT OF RETRACEMENT
BEFORE I CAN JOIN IN FOR THE SELL. BE PATIENT
WAIT FOR IT AND IT WILL COME.
I APPRECIATE ALL LIKES, COMMENTS AND FOLLOW FOR MORE
