It looks like your short trade setup on **GBP/NZD** is playing out as expected, moving towards the support area. The price has broken below the **ORL (Order Block Low)** and is approaching the **liquidity void** area.
### Key Observations:
- **Bearish Momentum:** Price is making lower highs and lower lows.
- **Volume Profile:** The high-volume nodes above suggest strong resistance.
- **RSI at 23.55:** The market is oversold, so a potential bounce might occur at support.
- **Trendlines & Liquidity Zones:** The price is heading toward the lower trendline support.
### Trade Management:
- **Partial Take Profit (TP):** Consider securing profits near key liquidity zones.
- **Stop Loss (SL) Adjustment:** Trail your SL as price moves in your favor.
- **Reversal Signs:** Watch for RSI divergence or strong rejection wicks.
For your **short trade on GBP/NZD**, here are **three key downside targets** based on the chart structure:
### 🎯 **Target 1: 2.2447**
- This level is a **minor support zone** where price could react temporarily.
- Possible **take profit (TP1)** for a partial exit.
### 🎯 **Target 2: 2.2007**
- A **strong liquidity zone** with previous demand.
- Ideal for **major take profit (TP2)** if bearish momentum continues.
### 🎯 **Target 3: 2.1650 - 2.1600**
- This aligns with the **lower ascending trendline** support.
- If price reaches here, expect **bullish reaction or reversal**.
- A full **take profit (TP3)** area.
(Not Financial Advice
### Key Observations:
- **Bearish Momentum:** Price is making lower highs and lower lows.
- **Volume Profile:** The high-volume nodes above suggest strong resistance.
- **RSI at 23.55:** The market is oversold, so a potential bounce might occur at support.
- **Trendlines & Liquidity Zones:** The price is heading toward the lower trendline support.
### Trade Management:
- **Partial Take Profit (TP):** Consider securing profits near key liquidity zones.
- **Stop Loss (SL) Adjustment:** Trail your SL as price moves in your favor.
- **Reversal Signs:** Watch for RSI divergence or strong rejection wicks.
For your **short trade on GBP/NZD**, here are **three key downside targets** based on the chart structure:
### 🎯 **Target 1: 2.2447**
- This level is a **minor support zone** where price could react temporarily.
- Possible **take profit (TP1)** for a partial exit.
### 🎯 **Target 2: 2.2007**
- A **strong liquidity zone** with previous demand.
- Ideal for **major take profit (TP2)** if bearish momentum continues.
### 🎯 **Target 3: 2.1650 - 2.1600**
- This aligns with the **lower ascending trendline** support.
- If price reaches here, expect **bullish reaction or reversal**.
- A full **take profit (TP3)** area.
(Not Financial Advice
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.