Why GBPNZD Longs are just getting started
Updated
https://www.tradingview.com/x/hMHGVcgP/
I wrote about a turnaround for GBPNZD about 10 days ago, buyers could be seen coming back into the pair. Then I went back a few months to the last bears-rally passed back to the bulls in GBPNZD and it could be seen that is was a fast and clean transition back to the bulls.
So I have not looked at the chart much lately, until of course today. But here is why I bought back in after taking all profits recently;
The MACD Daily, the best one for reliability and these cross-ups are accurate but market-makers at the big banks know of their existence but of course price would never be manipulated by anyone to throw retail traders off the scent.
Anyway, you can see here in the daily chart the uptick in the volume analysis, yellow lines & then green lines still longer than previous, that all timed wonderfully well for the MACD crossing up to the sky's and my guess is soon price of GBPUSD will power across the triple top and beyond 2.20.
Finally, here are a couple more charts.
1HR and then Monthly
I wrote about a turnaround for GBPNZD about 10 days ago, buyers could be seen coming back into the pair. Then I went back a few months to the last bears-rally passed back to the bulls in GBPNZD and it could be seen that is was a fast and clean transition back to the bulls.
So I have not looked at the chart much lately, until of course today. But here is why I bought back in after taking all profits recently;
The MACD Daily, the best one for reliability and these cross-ups are accurate but market-makers at the big banks know of their existence but of course price would never be manipulated by anyone to throw retail traders off the scent.
Anyway, you can see here in the daily chart the uptick in the volume analysis, yellow lines & then green lines still longer than previous, that all timed wonderfully well for the MACD crossing up to the sky's and my guess is soon price of GBPUSD will power across the triple top and beyond 2.20.
Finally, here are a couple more charts.
1HR and then Monthly
Note
Note
Learning hint 1: See what happens to price both times it exits the maroon coloured falling wedges.
Answer: If you said the answer was that price increased after exiting the falling wedges, two of them are evident in the maroon colour, yes ascending increasing price is 9/10 what happens. Back test it. Rising wedges do the opposite, price will usually fall, but not necessarily straight away, there will be whipsawing.
Cheers,
Chris
Trade active
Buy GBPNZD: Breaking out on multiple MACD cross ups Daily right down to very lower time frame.
Buy 2.19 up to 2.195
SL: 2:1855
TP: 2.36
Note
Because its on the top of a double -top right now price, it may get wound back a bit more.
Put STOP LOSS at 2.1794
Note
Latest chart 30 minute GBPUSD
Note
Taking profit at 2.98 would be good profit. It's in the chart anyhow. 3Month chart
Note
1.98 should read. 10% approx. above current price.Note
* I did it again like last time I covered GBPNZD, I seem to always drift across the GBPUSD, I do it everytime. Sorry, so everything above and contained in this publication, I refer exclusively to GBPNZD bullish chart, my referencing GBPUSD was a mistake and one that I've unfortunately made before.
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