GBPNZD Short Trade Idea
Updated
Last week we caught the amazing bullish spike that GN provided. It has now since unraveled a possibility of a corrective
structure considering that we have just experienced an overall 5 wave impulse to the downside. The B leg of the structure
is well overdo, this is because in usual instances, a corrective structure following an impulse almost always retraces a maximum
depth of the previous 4th wave's end. This A leg has slightly exceeded the previous 4th wave's depth and this could be an
indication to expect either a shallow B wave or a really strong one. I've got two key levels to set the minimum B target (for
the shallow scenario) and the maximum B target (for the deep scenario).
I would love to hear/see your perspectives on this pair should you also have it in your sights for the week to come. Do let
me know down in the comments and let's see how we can further manage this pair.
Targets:
-1.93200
-1.90200
structure considering that we have just experienced an overall 5 wave impulse to the downside. The B leg of the structure
is well overdo, this is because in usual instances, a corrective structure following an impulse almost always retraces a maximum
depth of the previous 4th wave's end. This A leg has slightly exceeded the previous 4th wave's depth and this could be an
indication to expect either a shallow B wave or a really strong one. I've got two key levels to set the minimum B target (for
the shallow scenario) and the maximum B target (for the deep scenario).
I would love to hear/see your perspectives on this pair should you also have it in your sights for the week to come. Do let
me know down in the comments and let's see how we can further manage this pair.
Targets:
-1.93200
-1.90200
Trade active
Note
Price is meandering around the resistance zone. Although price moved very close to my SL level, it is currently still active and appears to be retesting the resistance level.
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