Having seen a textbook setup on the daily timeframe wonder if this setup will playout considering the fact that:
1. It might take time to playout
2. Price might still decide to go south
3. Otherwise the Inverse Head and shoulder might playout
Just my thoughts though I await yours on the comment section
A glimpse of the GBPNZD in the first half of 2024
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This is my bearish trend idea. However, wait for a fall back to a key level after trend continue to downtrend momentum, because overall structure breakout and continue to downtrend. You can see it high time frame momentum. Good luck
Hello,Friends!
GBP/NZD pair is trading in a local downtrend which know by looking at the previous 1W candle which is red. On the 1D timeframe the pair is going up. The pair is overbought because the price is close to the upper band of the BB indicator. So we are looking to sell the pair with the upper BB line acting as resistance. The next target is 2.078...
The price of the currency pair is expected to start a downtrend after reaching the resistance level of 2.09181
Consider your risk management before entering a trade.
Pay attention to economic news and events that may affect the GBP and NZD exchange rates
Okay okay okay,
my aim today is the Monday's price low,
so I'm waiting for the price to retrace to the deep premium price so as i can sell with high probability,
lets check out how the price will price will play
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This is my bearish trend idea. However, wait for a fall back to a key level after trend continue to downtrend momentum, because overall structure breakout and continue to downtrend. You can see it high time frame momentum. Good luck
Hello,Friends!
GBP/NZD pair is trading in a local uptrend which know by looking at the previous 1W candle which is green. On the 1D timeframe the pair is going down. The pair is oversold because the price is close to the lower band of the BB indicator. So we are looking to buy the pair with the lower BB line acting as support. The next target is 2.110 area....
GBPNZD is moving in a descending channel near the upper boundary.
The volatility of the price movement decreased when approaching the channel boundary.
We expect a pullback to the 50% retracement level.
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✅GBP_NZD will soon retest a key resistance level of 2.104
So I think that the pair will make a pullback
And go down to retest the demand level below at 2.097
SHORT🔥
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is a chart pattern or not?
i guess like a bullish flag
but im not sure about it
please share guys..
what do you think?
disclaimer
this is not a signal
thanksyou
i post here, just wanna discuss about chart pattern
On this trade idea we have had sellside liquidity purge on the daily time frame i like to use a very strong liquidity point and the daily tf does it for me, after that i just seek agressiveness and basically the 2022 mentorship as entry and find my trade
Price is rising towards the resistance level which is an overlap resistance that aligns with the 50% Fibonacci retracement and could reverse from this level to our take profit.
Entry: 2.10271
Why we like it:
There is an overlap resistance level which aligns with the 50% Fibonacci retracement.
Stop loss: 2.11720
Why we like it:
There is a pullback resistance...
