GBPNZD: Potential Bearish Reversal
(A) & (B) are the highest volume bar(HVB) seen on Wed & Thu.
(A) tells me that a lot of sellers are coming in despite the huge bullish move.
The next day, we registered another HVB in (B) with daily closed lower that HVB (B) and near the low of the daily range(C). If HVB(B) is buying vol, why didn't it close higher? Moreover, D1 actually closed at the lower range of the day. The preceding candle((HVB-1) also shows a rejection of the previous day high when HVB(A) was first spotted.
Furthermore, when you look at AUDNZD, it's coming into a D1 supply zone.
All these points to me sign of weakness in GBPNZD.
I will be looking for confirmation to go SHORT on this pair
DISCLAIMER:
Any opinions, analyses discussed in this presentation are just my personal opinion and do not constitute investment advice.
I do not accept liability for any loss or damage, including without limitation to, any loss of profit, which may arise directly or indirectly from use of or reliance on such information.
PRICE ACTION only tell half the story. The other key half is VOLUME. For VOLUME drive price.
(A) tells me that a lot of sellers are coming in despite the huge bullish move.
The next day, we registered another HVB in (B) with daily closed lower that HVB (B) and near the low of the daily range(C). If HVB(B) is buying vol, why didn't it close higher? Moreover, D1 actually closed at the lower range of the day. The preceding candle((HVB-1) also shows a rejection of the previous day high when HVB(A) was first spotted.
Furthermore, when you look at AUDNZD, it's coming into a D1 supply zone.
All these points to me sign of weakness in GBPNZD.
I will be looking for confirmation to go SHORT on this pair
DISCLAIMER:
Any opinions, analyses discussed in this presentation are just my personal opinion and do not constitute investment advice.
I do not accept liability for any loss or damage, including without limitation to, any loss of profit, which may arise directly or indirectly from use of or reliance on such information.
PRICE ACTION only tell half the story. The other key half is VOLUME. For VOLUME drive price.
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.
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.