GBPNZD continuation of decline likely … the week of 02 Sep, 2024
Updated
The monthly, weekly and daily charts all say the same thing – “Sell”
Pull backs are always nice, they add value in terms of pips, give us a better R/R and pull backs to a significant S/R zone are even better.
In this chart I am looking for a pullback towards 2.1140 , that will also bring price closer to the 20 EMA. A good target can be the next significant level around 2.0600.
Monitoring PA on the H4 and H1 is always a good idea. Evidence of bearish PA would justify taking a short trade. However, if a strong move to the up side forms, that would negate my analysis.
This is not a trade recommendation. You should be aware that trading carries a high level of risk, so only trade with money you can afford to lose. Please use sound money and risk management, trading without a stop or moving the stop away from price is a recipe for disaster.
If you like my idea, please give a “boost” and follow me to get even more.
Please comment and share your thoughts too!!
It’s not whether you are right or wrong, but how much money you make when you are right and how much you lose when you are wrong – George Soros
Pull backs are always nice, they add value in terms of pips, give us a better R/R and pull backs to a significant S/R zone are even better.
In this chart I am looking for a pullback towards 2.1140 , that will also bring price closer to the 20 EMA. A good target can be the next significant level around 2.0600.
Monitoring PA on the H4 and H1 is always a good idea. Evidence of bearish PA would justify taking a short trade. However, if a strong move to the up side forms, that would negate my analysis.
This is not a trade recommendation. You should be aware that trading carries a high level of risk, so only trade with money you can afford to lose. Please use sound money and risk management, trading without a stop or moving the stop away from price is a recipe for disaster.
If you like my idea, please give a “boost” and follow me to get even more.
Please comment and share your thoughts too!!
It’s not whether you are right or wrong, but how much money you make when you are right and how much you lose when you are wrong – George Soros
Trade active
I have opened a small position short, will add to it if PA supports that.
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