Potential Short on GBPNZDObserving 4H, Daily and Weekly chart, we can see bearish momentum. There are 2 ways to look at this current price formation.
Firstly, it is in an upward channel, touching the lower bound and looking to breakdown of it. (Indicated by green lines)
Secondly, you can see it as a H&S pattern, where price is currently at the neckline. (Indicated by yellow line)
Targets are marked at S&R levels, with TP 1 @ 1.87250, TP 2 @ 1.86240 and Extended TP @ 1.84000. Following a H&S target measurement (distance from head to neckline), melting down towards Ext. TP is possible.
After a breakdown, there is possibility of a pullback to either the neckline or the lower bound of the upward channel. At that point, it would be important to observe price action to decide on any addition of positions OR an entry.
Gbp-nzd
GBPNZD Reversed Off Resistance, Prepare For Further DropGBPNZD reversed off its resistance at 1.9008 (100% Fibonacci extension ,38.2% Fibonacci retracement , horizontal swing high resistance) and a strong drop might occur pushing price down to our major support at 0.8764 (61.8% fibonacci extension ,horizontal swing low support).
Ichimoku cloud is also showing bearish cloud where a corresponding drop is expected.
Trading CFDs on margin carries high risk. Losses can exceed the initial investment so please ensure you fully understand the risks
Short GBP/NZDShort GBP/NZD , GBP is on trouble and with a bit of risk on the NZD looks strong. Always have good stops in place so you don't blow your account. Never play with money you cant afford to lose or you are just gambling. Good target and stops in place. I don't win 100% of the time , but as as long as your R/R is good you have a good chance of beating the markets.
Good luck. Also see my other posts today.
GBPNZD approaching resistance, potential drop! GBPNZD is approaching our first resistance at 1.9284 (horizontal swing high resistance, 78.6% Fibonacci retracement, 61.8% Fibonacci extension) where a strong drop might occur below this level pushing price down to our major support at 1.9184 (horizontal overlap support, 38.2% Fibonacci retracement).
Stochastic (55,5,3) is approaching resistance where we might see a drop in price.
Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully understand the risks.
GBPNZD LongThe sentiment of GBPNZD currency pair is UP SWING. Recent swing is moving UP from lower band to middle band. The previous swing of GBPNZD currency pair was DOWN and had no volatility movement, so supply is decreasing. As market direction the sentiment has turned to positive while the buying pressure overcomes the selling pressure.
The execution of buying price at 1.88390.
The first price target is estimated 100.0% at 1.88780.
The second price target is estimated 200.0% at 1.89170.
The escaping of price is estimated 100% at 1.88000.
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Possible trade idea GBPNZD shortAs we see we are clear in a downtrend. Price is now on the 15m candle on its resistance of the trendline. We should keep an eye what price will do with the opening of the markets and then enter our short position. Im for sure some other people been riding the short for a while so we could catch the next short run.
Im still learning each day in the markets.
So dont see this as a signal, do your own analyse this is just how i see it.
GBP/NZD capped at cloud, stay short on upticksGBP/NZD hits new 3-week lows below 21-EMA support, bias bearish.
Stochs and RSI are sharply lower and MACD is on verge of a bearish crossover on signal line.
Price action has been rejected at daily cloud, dip till lower Bollinger Band at 1.8435 likely.
Support levels - 1.8677 (4H 200 SMA), 1.8625 (Nov 16 low), 1.8435 (Lower BB)
Resistance levels - 1.8792 (21-EMA), 1.8833 (5-DMA), 1.8927 (55-EMA)
Good to stay short on upticks, SL: 1.88, TP: 1.8675/ 1.8625/ 1.85
GBPNZD approaching support, potential bounce! GBPNZD is approaching our first support at 1.8739 (horizontal swing low support, 61.8% Fibonacci extension, 38.2% Fibonacci retracement, ascending support’s channel) where a strong bounce might occur above this level pushing price up to our major resistance at 1.8982 (horizontal swing high resistance, 61.8% Fibonacci retracement).
Stochastic (55,5,3) is also approaching our support where we might see a corresponding bounce in price.
Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully understand the risks.
GBPNZD approaching support, potential bounce!GBPNZD is approaching our first support at 1.8746 (horizontal swing low support, 61.8% fibonacci extension, 38.2% fibonacci retracement, ascending channel’s support) where a strong bounce might occur pushing price up to our major resistance at 1.8977 (horizontal swing high resistance, 61.8% Fibonacci retracement).
Stochastic (89,5,3) is also approaching support where we might see a corresponding bounce in price.
Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully understand the risks.
GBP/NZD follow the trend, just made a retracement, now SELL timeTrading mindset:
1. Use 1% risk
2. 1:2 risk/reward
3. Wait for update to close manual!
In longer term it pays off very well and keeps your capital safe!
Breakeven: If you are correct 33% of the time, your capital is safe.
Adopt this mindset in order to be successful trader.