MY GBPNZD SHORT IDEA 01/11/2024
Updated
Direction: Short
SL: 2.16529 - 2.16417
Indicators:
1. MA (20,50,100,200)
2. Trendline - Algo
3. Support and Resistance
4. I also use MT5 - Tradingcentral tools
Time Frame: 4h (I also use other time frames mainly 1D because I like to trade for long period of time)
Technical:
1. MA 20 (Yellow) still above 100 and 200 signaling a bull bias but I think this is a pivot and it is the beginning of a bearish setup I think the MA 20 will fall below the 100 and 200 soon.
2. Green trendline was broken previously so I'm looking for a breakthrough the red trendline.
3. Price respected the resistance zone and is falling backdown to support.
5. Tradingcentral tool signaling DECLINE on all time frames but the 1D time frame at the moment.
Fundamental and economic:
1. GBP economy has been stabilizing and mildly bullish recently but then took a small hit after the 30 year green gilt auction.
2. NZD has been struggling a lot but I think the upcoming week is in favor for NZD with their unemployment news.
2. I use Edgefinder tool which shows me a score of 4 "Neutral" and it also shows me -5 "Bearish" for GBPUSD.
3. Q4 historically is bearish for this pair according to the seasonal indicator by Tradingview.
SL: 2.16529 - 2.16417
Indicators:
1. MA (20,50,100,200)
2. Trendline - Algo
3. Support and Resistance
4. I also use MT5 - Tradingcentral tools
Time Frame: 4h (I also use other time frames mainly 1D because I like to trade for long period of time)
Technical:
1. MA 20 (Yellow) still above 100 and 200 signaling a bull bias but I think this is a pivot and it is the beginning of a bearish setup I think the MA 20 will fall below the 100 and 200 soon.
2. Green trendline was broken previously so I'm looking for a breakthrough the red trendline.
3. Price respected the resistance zone and is falling backdown to support.
5. Tradingcentral tool signaling DECLINE on all time frames but the 1D time frame at the moment.
Fundamental and economic:
1. GBP economy has been stabilizing and mildly bullish recently but then took a small hit after the 30 year green gilt auction.
2. NZD has been struggling a lot but I think the upcoming week is in favor for NZD with their unemployment news.
2. I use Edgefinder tool which shows me a score of 4 "Neutral" and it also shows me -5 "Bearish" for GBPUSD.
3. Q4 historically is bearish for this pair according to the seasonal indicator by Tradingview.
Trade closed: stop reached
My SL was hit way too early sadly. 
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