GBPNZD Looking for short term upside
Updated
Hi traders:
I am looking at GBPNZD for some potential short term upside.
We see price on the higher time frame had a strong move to the downside, getting close to the bottom of the channel strucutre.
Price did correctively move down in a fallen wedge structure, adding confluence to the short buy.
Last bit of price action had an Inverse Head and Shoulder pattern, then price broke out of this smaller correction.
Looking to target the recent tops, beginning of the wedge structure. Once price hits that area then I will reevaluate.
Thank you
I am looking at GBPNZD for some potential short term upside.
We see price on the higher time frame had a strong move to the downside, getting close to the bottom of the channel strucutre.
Price did correctively move down in a fallen wedge structure, adding confluence to the short buy.
Last bit of price action had an Inverse Head and Shoulder pattern, then price broke out of this smaller correction.
Looking to target the recent tops, beginning of the wedge structure. Once price hits that area then I will reevaluate.
Thank you
Comment
Higher Time Frame outlook and forecastComment
Wait for this correction to break out.Comment
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