Quite easy trade this. As you can see GBPNZD came down touched the 50EMA and bounced with a bullish engulfing candle which suggest that this pair is on course to make another bullish run.
I have gone long on this one and marked the tp and sl for you as well.
Let me know your thoughts.
Trade safe and good luck.
Price of GBPNZD has currently been travelling in an ascending channel. There is a minor support trendline marked out in a thinner black line inside the the channel. Price just recently broke below this line indicating a drop down to the bottom of the major channel like it previously has.
We sent this trade out to our FREE signal members on the entry of the chart!...
on the higher timeframes, like the daily, this pair is in an uptrend, because it broke to the upside the most recent resistance (upper black line). Now, until we broke a support to the downside, the trend will be considered bullish. Therefore, it makes sense to look for trading opportunities on lower timeframes, when we see there's higher timeframe...
as you may know from my previous analysis on this pair, i've been looking at it for several days, as soon as we broke the level represented with a yellow box, that is our previous daily resistance. Once it's been broken, my bias has turned into bullish because i know that a break of structure to the upside can mean a trend continuation opportunity. I...
with this idea i want to show you the beauty of harmonic patterns. Sometimes you see that price is consolidating and you don't know what to do because it seems it doesn't have a clear direction in mind. But when consolidation happens, patterns breed. You don't have to determine what the trend is because you don't care really. You're ready to trade on the...
on the daily chart on GBPNZD we've recently created a new structure high. This makes my bias directed to the upward direction and therefore more incline to take long opportunities. As i went down on lower timeframes such as the 4H, i've identified a nice harmonic pattern (a Gartley formation) that's right near the completion point (brown line). Since the...
Hey guys, thanks for checking out my idea, hope it helps.
Why do I think Trend continuation?
Let's start with the first Double Bottom (DB), it retraces at the 618 and shoots up to a new structure high, I believe that this pair is on a retracement after hitting the strong structure resistance from 2011 and also as ...
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.
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...
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
here on GBPNZD as you can see we have a nice double bottom (with RSI divergence) right at the completion point of the Cypher pattern. Besides, this level is also a level of structure that lines up pretty well with the 618 retracement of the bigger leg.
The last bullish candle is the final sign of a possible reversal.
We'll see. Stops below the low,...
lots of interesting ideas today. Here we have an advanced pattern formation, a Bat, that's completing right near the resistance level that was broken to the upside and that should now turn into support.
Whenever this kind of pattern completes at key structure levels i place my orders at the D point, with stops below X, and targets at the 382 and 618...