Gbpnzd daily chart bottom of range A good entry would be at the bottom of the trend. Possible short from the top of the range if the trend doesn’t break above 1.97326. A secondary buy at bottom of range is likely if gbp strengthens. Keep an eye on a 4hr chart for closer look at entry points and selling opportunities. Rsi neutral for the daily chart at the moment. A 50 rsi levelling on daily and undervalued on an hourly chart hence why there is a possible upward trend.
Bottomrange
4HR BULLISH DIVERGENCE BEING PRINTED? (10700 - local high range)Reasons I'm bullish:
#1:Last time we had a "buy the dip" like this was back in May at 8100 IMO
#2: It's printing a bullish divergence on the 4 hour - higher low while PA made a lower high and has been finding a floor.
#3: The high range is still around 10700 - this zone would need to be flipped into support if
bulls want to regain 11k
#4: The entire market went from extreme greed to extreme fear (this is a buying opportunity for me)
#5: Whales seem to be accumulating this zone
REMINDER: THIS IS NOT FINANCIAL ADVISE, THESE ARE MY THOUGHTS AND IDEA'S PUT INTO TECHNICAL ANALYSIS SHARED FOR THE COMMUNITY.
(if a local bottom is near we should head back to the 10700 high range in coming days, will reevaluate there)