LONG TERM ANALYSIS ON GBP/NZD
GBP/NZD 1W - As you can see from the above illustration I believe price will continue this bullishness trading us up and into the Supply Zone marked out above, from there we may see price reverse.
In order for us to deem a valid entry to short this market, we will need to see price break structure to the downside once it trades into the Supply Zone. This will confirm that enough Supply has been introduced to flip the markets balance.
Until then we can absolutely look to take this market long, having that area of Supply as our TP target, all we need to do is look for more fractal areas of Demand to buy into this market from.
These areas of Demand will be seen as fair value gaps that need clearing or Order Blocks, price will pullback into these to clear liquidity and introduce more Demand to encourage price to trade higher.
In order for us to deem a valid entry to short this market, we will need to see price break structure to the downside once it trades into the Supply Zone. This will confirm that enough Supply has been introduced to flip the markets balance.
Until then we can absolutely look to take this market long, having that area of Supply as our TP target, all we need to do is look for more fractal areas of Demand to buy into this market from.
These areas of Demand will be seen as fair value gaps that need clearing or Order Blocks, price will pullback into these to clear liquidity and introduce more Demand to encourage price to trade higher.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.