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GBPNZD potential rising wedge pattern
wait for price to break lower trendline before going SHORT
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 ...
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.
If you ...
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 ...
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.
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 ...
today i want to share with you a simple harmonic pattern that's about to complete on GBPNZD. I'm really interested in this formation for it's completing right at a structure level that i've drawn on the daily chart and so we have an additional confirmation.
Stops above X, targets as usual for harmonic patterns.
If you want to share your thoughts or ...
today i want to share a setup which is available at market right now. In this situation price si coming back to retest a daily structure zone (blue rectangle) after a double top formation that's been broken to the downside, as a confirmation signal of the direction it's headed.
You can short the market now according to the 2618 technique, with stops ...