After breaking the ascending channel we have seen a slowly down-trending since but it looks like this move is running out of steam now that we have reached a key support level. It is highly likely that price will push down one last time to gather liquidity below this support before it begins to push to the upside.
GBPNZD OLHC (BUY) POSSIBLE MONTHLY
Please support this idea with LIKE if you find it useful...
DAILY TIMEFRAME shows price has also not found support. We waiting on priceline to cross above bloodline to
confirm strong support so we buy. My target will be back to the monthly open if price finds support.
Trade with Caution. Wait for valid entries.
P A T I E N...
Seems GBPNZD Have a demand zone that not fulfill in the market. Watch the price action. Enter when it have rejection.
Private Channel for only 5$ / month
📊SNR & SND trader
📈 Naked chart analyst
💰 Risk Management 1:2
💣 100-300pips weekly
📅 1-3 Signals Daily
After the market crash earlier today, GN has returned to a zone and showing signs of possible rejections - Hopefully we DONT get a liquidity spike, if not and price start to gradually move to the up side we will enter into LONG with over 150 pips to possibly catch.
I still havent got a bias on this pair, I am waiting for price to break out either way. I would prefer price to break the ascending trendline as it gives us a better risk to reward trade, but we can't pick and chose in the markets, we must take what we are given. Let's see how this pair plays out....
Keeping it simple and letting price dictate what it wants to do
Waiting for price to break resistance before first buy then doing the same with the second
There is divergence on multiple timeframes and price has broken a downward trend line (not drawn)