Welcome to the Election day in the jungle. The GBPNZD pair could be breaking out of the daily range to be off to weekly lows on the higher time frames, where it formed what it seems like a bullish flag on the Daily chart, which has been disrupted and might break to the down side anytime soon.
On the 4H time frame it has broken a small uptrend before it reached...
Here is a simple, yet effective long trade on GBPNZD . This is taken from my own day trading strategy which incorporates a few technical indicators and common sense to enter accurate trades with good reward:risk ratio.
Entry Criteria - Bullish rejections of daily pivot level. Price closed above.
Stop Loss - Below current lows.
Target - Daily Support 1 level (S1)...
Quick update on GBP pairs.
It's rallied into some key resistance levels on my charts. This could potentially signify exhaustion and lead to speculative selling/profit-taking in the very short term.
Keep a watch on the formation of this daily candle, if it posts some kind of inverted hammer or outside day, then I may look to sell some GBP pairs next week in...
You know each pair consists of 2 currencies. If you are going to trade a pair, you should know how powerful each currency is depending on the time frame you use for trading. If both currencies moving in the same direction, then you should not trade that pair. For example, if both EUR and USD are getting weaker then trading that pair is not a good idea...
Only NZD was more bullish than GBP last week making GBPNZD pair to retrace back inside the bullish wedge. Potential reversal level is at 1.99320, if this level is violated, then 1.97769 stands to reverse
Did you just hand back over some money to the market after what you thought was a great entry? But why, that "support" looks fantastic? You might have thought;
Multiple touches in the past, strong zone.
Price created some nice bullish Price Action, it must be bouncing off the support.
We had a huge strong move up not too long ago.
This is accumulation within that...
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Another opportunity on GN! It looks for an amazing sell opportunity at the moment!
For any questions feel free to contact me on Telegram (Abid_fx)
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Amazing opportunity on GN! It's at a perfect zone for a nice reversal! Trade Safe Traders!
For any QUESTIONS feel free to contact me on Telegram (Abid_fx) and you can join my FREE TELEGRAM CHANNEL as well!