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GBP/NZD has hit resistance therefore has gone down, and it will keep going down, it is still a good entry if you enter now.
The break below previous support at 1.32 amid a strong downtrend signals lower prices
Two possible scenarios after today's vote in UK parliament over Brexit
A) former support at 1.32 is resistance and downtrend resumes toward 1.305
B) price closes back above 1.32 signalling a rangebound market and an eventual re-test of 1.347
Potential short on this pair wait for the clear break but wait for a clear break. Minimum target is the end of three wave.
You can see over the year we have been trading between the two main support and resistance. From price action you can see this market is starting to lose momentum trying to break through the resistance barrier. Bearish candle sticks and short term 2 hourly trend line has been broken. Think its time the pound dropped!
let me know what you think!
A series of lower highs, inside a big triangle / wedge (see daily or even weekly timeframe) we could see a bearish rotation down to the bottom of the wedge.
Coming from a historically strong and significant resistance area (1.2555) I see a potential bearish ride down to 1.2300 and possibly further. While venturing down I'm looking to lock profit after passing ...
We have hit a historically strong and stubborn support & resistance zone, a psychological round number 1.2400, a 0.618 fibonacci retracement of X-A, and our momentum has been weakening - and even broke to the downside.
Now its time to jump on the bear train again! Or at least I am.
Targets are marked on the cart, with a potential zone which we may very likely ...
Will the bouncing continue?
We see a clearly defined, triangle-narrowing movement on this pair as we're respecting both structure and trendlines more and more lately. We're heading into a triangle, and price-action seems pretty determined.
IF it continues we could pick up some profit on the way. It might aswell be a trap, with a break to the upside.
I chose ...
A setup with two targets, triggered by the 0.618 retracement of the double top. And, the retrace also runs into our falling trend line.
First target - retest of previous low.
Second target - above historic support level
Feel free to ask if somethings on your mind, I'm as transparent as can be.
I do not recommend using my charts and ideas as a signal to ...
2618 completing any moment, and above we have batman soaring. I put my entry order in between these two aiming to follow these down to 1.25000.
Lets see if we get picked up this time.