A Potential Inverse H&S Pattern Could Soon Reverse the TrendOn the daily chart , we can clearly spot a possible formation of an inverse head and shoulder pattern. As we can see back in 2021 October, an exact pattern was formed, eventually resulting in a breakout followed by a persistent bull market. Therefore, a similar scenario could happen again soon, hinting a beginning of a bull market.
Currently, we are carefully monitoring the price movement to see whether the price will break above the neckline area. After a clear breakout, meaning a daily candle clearly closing above the neckline, we will then place our buy limit orders on the neckline to capture the retest.
This is a high probability setup to catch an extraordinary bullish impulse because GBPNZD is very volatile, and a price impulse can easily shake this pair by more than 300-400 pips a day.
Gbp-nzd
GBPNZD Long Set Up Welcome back! Here's a potential buy scalp opportunity for KiSS 2.0 Strategy or whatever entry criteria you use.
**GBPNZD - listen to video analysis.
We recommend that you keep this pair on your watchlist and enter when the entry criteria of your strategy is met.
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GBPNZD | Possible Bullish ScenarioGBPNZD created a Rounded Bottom pattern as we see on the 4H chart.
The Price is about to break the Neckline level ( around 1.93680 ).
Entry Point will be perfect in this setup after the 4H candle close above the neckline level.
Don't Forget: "The Market Is Always Right"
So nobody can predict the market, good traders only react to it. Good Luck!
GBPNZDCurrently bullish on GBP pairs after last weeks reaction, many reversal patterns formed if not already happening. GBP shown some support. Looking for a pullback from sellers to complete the formation of this reversal patterns before entering my long. Imbalance is also a hint that bulls are gearing up to fill it in. Fib being used for targets.
Driving factor - UK SALES REPORT 22ND
GBPNZD potential for pullback! | 12th April 2022Prices are at a Pivot . We see the potential for a dip from our sell entry at 1.91149 which is an area of Fibonacci confluences towards our Take Profit at 1.89986 in line with 23.6% Fibonacci retracement . RSI is at levels where dips previously occurred.
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GBPNZD potential for pullback! | 12th April 2022Prices are at a Pivot. We see the potential for a dip from our sell entry at 1.91149 which is an area of Fibonacci confluences towards our Take Profit at 1.89986 in line with 23.6% Fibonacci retracement. RSI is at levels where dips previously occurred.
Any opinions, news, research, analyses, prices, other information, or links to third-party sites contained on this website are provided on an "as-is" basis, as general market commentary, and do not constitute investment advice. The market commentary has not been prepared in accordance with legal requirements designed to promote the independence of investment research, and it is therefore not subject to any prohibition on dealing ahead of dissemination. Although this commentary is not produced by an independent source, FXCM takes all sufficient steps to eliminate or prevent any conflicts of interest arising out of the production and dissemination of this communication. The employees of FXCM commit to acting in the clients' best interests and represent their views without misleading, deceiving, or otherwise impairing the clients' ability to make informed investment decisions. For more information about the FXCM's internal organizational and administrative arrangements for the prevention of conflicts, please refer to the Firms' Managing Conflicts Policy. Please ensure that you read and understand our Full Disclaimer and Liability provision concerning the foregoing Information, which can be accessed on the website.
GBPNZD LONG - Buy Entry - D1 ChartGBPNZD LONG - Buy Entry - D1 Chart
Buy @ Market
Symbol: GBPNZD
Timeframe: D1
Type: BUY
Entry Price: Buy @ Market
Resistance @ 2.02900
Resistance @ 1.97203
Pivot Point Yearly @ 1.94846
Resistance @ 1.91244
Support @ 1.88625
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GBPNZD Supply And Demand Analysis-Price inside weekly demand.
-Price bouncing off of weekly upward trend line
-Trend = up/sideways.
-Waiting for buyers to step in on the daily timeframe... Need to see daily downward trend line break, opposing pivot point supply removed, and a quality daily/4hr demand created.
Could have more downwards selling on GBPNZDHello there!
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