GBPNZD - FOREX - 03. JULY. 2019Welcome to DACapitalTrading, We provide any kind of Technical and Fundamental Analysis
for Forex and Crypto-Currency Markets every day!
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1 HOUR
Bearish market movement below previous lows.
4 HOUR
Price action increasing and probably taking out long holders.
DAILY
Daily structure very bearish at its support now, expecting a bullish rallie or pullback now!
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FOREX SETUP
BUY GBPNZD
ENTRY @ 1.88200
SL @ 1.86490 (170 Pips)
TP @ 1.91100 (290 Pips)
RR: 1.70
Use 1% risk per Position!
(Remember to add a few pips to all levels - different Brokers!)
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ALAN
Gbp-nzd
GBPNZD SS MA trade + 84 Pip PotentialWe have a nice down move in this pair, so we will look to get in on a pullback. This is an MA trade with a High probability and Good RRR.
Entry = 1.9305
Stop = 1.9325
Risk = 20 pips
Profit target = 1.9221
Reward = + 84 Pips
RRR = 4-1
**Once this trade is up + 25 pips, move your stop to breakeven and let it run
RETESTING AREA OF SENSITIVITY TO GO SHORT- Price has been supported for a trendline since last December
-Broke out to the down side
- Now retesting
- Pin bar in the H4 rejecting area of resistance (there's also a candle in the daily chart rejecting this area)
- Waiting for confirmation (e.g. bearish engulfing candle)
- Posible target to previous area of buyers
What do you think?
GBPNZD approaching support, potential bounce!Price is approaching our first support (horizontal swing low support, 100% Fibonacci extension, 38.2% Fibonacci retracement) where a strong bounce to our major resistance (38.2% Fibonacci retracement) might occur. Stochastic is also approaching support as well.
Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully understand the risks.
GBPNZD Reversed Off .382 Fib Retracement, Head and ShouldersHere we have an opportunity to sell GBPNZD after it reversed off the .382 fib retracement and formed a head and shoulders pattern, which has been confirmed with a bearish break of the neckline.
At the current moment, you should wait for a better opportunity for entry as price is sitting on both a horizontal support (highlighted in green) and a ascending support (highlighted in blue)
A better view of the blue ascending support level is shown here:
We MUST break these two key levels for price to continue its move downward.
Good Luck Traders!