GBP/NZD 4H Trading Analysis – Bearish Setup
📉 Potential Short Opportunity
🔹 Structure Breakdown:
The market broke a rising wedge pattern, signaling a potential downtrend. Price has retraced to key Fibonacci levels, providing a possible entry for short positions.
🔹 Fibonacci Levels:
61.8% (2.2565)
71% (2.2609)
78.6% (2.2648)
These levels act as resistance zones where sellers may step in. A rejection from this area could confirm further downside movement.
🔹 Entry & Confirmation:
Ideal short entry: 2.2565 - 2.2609 zone (Fibonacci resistance)
Stop Loss: Above 2.2750 (100% Fib level & structure high)
Target 1: 2.2200 (-27% Fib extension)
Target 2: 2.1963 (-61.8% Fib extension)
🔹 Confluence Factors:
✅ Retest of previous support-turned-resistance
✅ Bearish momentum following the wedge breakdown
✅ Fibonacci retracement aligning with resistance
📉 Potential Short Opportunity
🔹 Structure Breakdown:
The market broke a rising wedge pattern, signaling a potential downtrend. Price has retraced to key Fibonacci levels, providing a possible entry for short positions.
🔹 Fibonacci Levels:
61.8% (2.2565)
71% (2.2609)
78.6% (2.2648)
These levels act as resistance zones where sellers may step in. A rejection from this area could confirm further downside movement.
🔹 Entry & Confirmation:
Ideal short entry: 2.2565 - 2.2609 zone (Fibonacci resistance)
Stop Loss: Above 2.2750 (100% Fib level & structure high)
Target 1: 2.2200 (-27% Fib extension)
Target 2: 2.1963 (-61.8% Fib extension)
🔹 Confluence Factors:
✅ Retest of previous support-turned-resistance
✅ Bearish momentum following the wedge breakdown
✅ Fibonacci retracement aligning with resistance
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Disclaimer
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7+ years of trading experience 📚
Canadian Based 🇨🇦
Learn a structured approach to consistent trading results 🧠💡
Follow me on Insta!
Canadian Based 🇨🇦
Learn a structured approach to consistent trading results 🧠💡
Follow me on Insta!
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.