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Gbpnzdanalysis

GBPNZD long swing trade 3:3.34 RR high probability tradeConfluences: -Price just broke out of the 4H consolidation area -Personally now I'll wait for price to come back to retest the consolidation area -For an aggressive entry: I'll put a buy limit at the top of the consolidation area -For a safer entry: I'll put a buy stop when I see signs of rejection and continuation to the upside Additionally the weekly closed very bullish, and the consolidation happened at a quarter level, giving me a high conviction on this trade. However there is always the risk of a fake breakout so be wary. What do you guys think?
Long
by Fed02
Multi-Wick Rejection Offf The Weekly Level Can Lead To ShortThis is a very jittery uptrend. And there are a lot of which rejections on my weekly area around 1.94408. I can see this from the daily timeframe. This could mean that we're getting ready for a short and if any reversals are possible, it will happen later part of the week. For now, my targets will be targeting daily levels from both sides. So less he had a market plays out. BULL TPs: • 1.94408 • 1.94950 • 1.96092 BEAT TPs: • 1.93297 • 1.92725 • 1.92020 • 1.91514 • 1.91065
by NikaJourney
Can The Bull Rally Stop The Possible Short?Have bearish engulfing on the 4hr that has to be retested. But I don't think the retest may last long. We may keep continuing up to test the weekly 1.94408 area, shoot back down as a rejection. With the large inverted head and shoulders below, we might pass up though to continue the rally. Otherwise, we may just keep dropping on down until we reach the daily 1.90910 area before another attempt back up. BULL TPS: • 1.93496 • 1.93871 • 1.94408 • 1.94950 BEAR TPS: • 1.92628 • 1.92020 • 1.91065 • 1.90353
by NikaJourney