Gbpnzd Seems Strong Resistance And Strong Bearish Candle on daily chart Advice to sell in range of 1.7305-1.74 sl above 1.7470 Tp 1.68
Forecast : GBPNZD will drop hard more than 100 pips estimated..
GN showing a bearish movement....but the volatility its big it can kill your margin easily so trade wisely...
GBPNZD is bearish impulsive with a trend that is very close to a nonvolatile trend, we saw a huge gap down on Monday's open and then a bullish run up into the swing lows filling the order. 20EMA angle is quite steep, price held below 1.715 RRL. Stop is above 20EMA, 1.715 RRL and the gap.
Looking to sell the GBPNZD. 2 possible prices for retracement to then enter short. Idea 1 sell around 1.72 - 0.382 fib of move from 1.7476 to 1.7050, 0.618 fib of move from 1.6704 tp 1.8000 and 4 day EMA Idea 2 sell around 1.7267 - bee support twice (10/01 & 11/01) & acted as resistance on 12/01 Initial target 1.6930
gbpnzd two structure buy and sell both
Gbpnzd trading around 1.7670 level if today closing belwo 1.7750 we can see a drop toward 1.7350-1.74 level where breage of 1.7350 may call for 1.69-1.70 If see closing below 1.7750 go for sell sl above 1.79 TP1 1.7400 TP2 1.70
GBPNZD ALready Break suport Chanel Break And flag Pattern break So i m expect sell
Double bottom if it breaks the trendline, possible.
Double top completed on daily Entry: 1.7645 SL: 1.8065 (-422) TP1: 1.7410 (+226) TP2: 1.7141 (+509)
We have two scenarios But first the market must go to 1.75758 If 1.75267 was broken the market will go to 1.72648 If 1.75267 stayed strong the market will move to 1.78419 and it will move back to 1.72648 This is a new way in Elliott waves counting by time cycles more logical more Easier and more faster You will see my results :D
We are waiting the price to test the rising sideline. Target 1,75237 Stop 1,77192
Gbpnzd trading around 1.7480 level its Strongly Rejecting 1.76 level. If hold below 1.77 we can see a drop which may b till 1.70-1.72 So advice sell in range of 1.7478-1.7620 sl above 1.7720 TP1 1.7260 TP2 1.70
FX:GBPNZD Safe Trades;