Gbp-nzd
GBPNZD: Key Levels That You MUST Consider
hey guys,
GBPNZD is currently approaching a strong weekly structure.
because the pair is very volatile and can boom and bust very quickly,
here are the key levels that you must consider trading this market:
Support 1 - 1.905 - 1.915
this structure is based on the current year's low and price action of 2019th.
the market is currently testing that area, so look for long opportunities on lower time frames.
Support 2 - 1.84 - 1.854
this structure is based on 2018's and 2019's structure lows.
though the market dived deeper testing theses levels,
weekly candles have perfectly closed within the above-mentioned zone.
Resistance 1 - 1.945 - 1.955
this structure is based on 2019's price action.
in case if support 1 is respected, it can be the first goal for swing traders
Resistance 2 - 2.0 - 2.02
this structure is based on current year's high and 2019's price action
major reversals always happen on key levels.
so always pay attention to the reaction of the market to these zones.
GBPNZDAs published by my self on September 4th this pair had retraced to our 61.8 fib with a clear rejection of this level. Price then continued to push down taking out previous lows to eventually reach our target zones at the -27 and -61.8 fib extension levels. Those that are part of our private educational group capitalised massively on this particular set up.
GBPNZD: Long Trade Explained
GBPNZD is trading within a key weekly/daily zone of demand.
this zone is based on a strong horizontal structure + confluence with 618 retracement of the last major leg and a support line of a falling parallel channel on 4h.
on hourly time frame the price stopped falling after a massive selloff and set a higher low forming a double bottom pattern.
now I wait for a bullish breakout 1.949 minor resistance to initiate a long position.
target levels:
1.956
1.96
in case of a new lower low, lower close, setup will be invalid.
GBPNZD GBPNZD GBP NZDOn GBPNZD we have seen a retracement to the 61.8 fib in this overall bearish trend. We can also see that the we are retesting the August open which sits nicely with our 61.8 fib. If we see a strong close below the August open we will most certainly be looking to open a short position down to our -27/61.8 fib extension levels that correlate nicely with previous swing lows.
GBPNZD - SWING - 01. SEPT. 2020Welcome to our weekly trade setup ( GBPNZD )!
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1 HOUR
Bullish market open and pressure.
4 HOUR
Price closed above main sr level.
DAILY
Expecting another push to the upside following midterm trend.
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FOREX SWING
BUY GBPNZD
ENTRY LEVEL @ 1.98920
SL @ 1.97650
TP @ 2.00870
Max Risk. 0.5% - 1%!
(Remember to add a few pips to all levels - different Brokers!)
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Have a great week everyone!
ALAN
GBPNZD price has broken above resistance after a double bottom. This is a full breakdown of my perception of price action on higher time frames! I take my entries using smaller time frame confirmation and you should, too. If you have any questions about this trade or my strategies feel free to ask them in the comment section below!
Let’s make some money together!
GBPNZD-4hr's Seem we Have Landing Soon📍__**Hello all traders
🎗 GBP/NZD Setup / Analysis
🕐 4HR'S Chart
📋 Educational
—————**-
🗒 Just browsing through my analysis means a lot to me.
➡️ Please follow the analysis very carefully and every detail of the chart means a lot. And always entry depends on many reasons carefully studied
Always enter into deals when there are more than 5 reasons
combined
Key Technical / Reason's Short Position's
🔰Entry Reversal
---- 1.99700 Area
Value Area Break Out
Head & Shoulder Break Out
Day low Break Out
Up Channel Break Out + 3 Drive
Down Counter Trend
Target Reversal
----- 1.95000
High Volume Poc
Major Turn level
Head & Shoulder Target Reversal
Ultra High Volume Area
GBP/NZD
Short Down " 1.99650 - 1.99750
Take Profit " 75 PIP / 150 PIP / 225 PIP / 300 PIP
Stop loss " 75 PIP
📍Risk 2.5 % : 5 %
➕Account Growth Expecting " 5 % : 20 %
❗️Risk : Reward 1 : 4