GBPNZDFound a support with multiple rejections and fake breakout
Looking for a HL to go short towards the trend line
Gbpnzdanalysis
GBP/NZD is at Support Level. GBP/NZD is at support level. There is a chance that GBP/NZD will start growing from this zone.
GBPNZD - Descending Channel / 4 HourDescending channel, price action currently testing support. Will set alerts to catch a bounce or break to the downside.
UPDATE: 465+PIPS IN PROFIT FROM ENTRY ON GBPNZDWe are currently more than 465+ pips in profit on this position from our entry. i have attached the initial analysis below.
Analysis for this trade was pretty simple and straight forward. Entry was marked using Fibonacci retracment at 50% of the previous bearish move.
I want to point out some other factors that are key to your success as a trader,
1. Keep your analysis plain and simple, you will not find consistency by trying to use a lot of tools, you will only contradict yourself
2. Always calculate your risk on a trade and use a stop loss, you will not lose sleep knowing you could lose 2% on a trade but you sure will lose sleep not knowing how much you're going to lose on a trade
3. Learn, understand and apply the concept of risk to reward ratios. And always trade with a healthy risk to reward ratio
4. Trust your trade and whole heatedly accept the fact that every single trade you take has potential to be loser and hit your SL
These factors are a few of many but you have to start somewhere. start applying them if you want to see a change.
GBPNZD- Last week the market was in a consolidation area being indecisive. By the end of the week it had make two exhaustion on daily with inverted hammer.
- This week we look to sell as the market makes a decision to weaken
- 4HR we have selling in the market as it creates an engulfing
POTENTIAL SHORT AFTER PULLBACK ON GBPNZD Price has fast approached our marked level of support. This set up is showing the potential to retrace at least 50% of the bearish move before advancing lower. Entry, stop loss and take profit have been marked.
Do not risk more than 2% on this date.
FURTHER POTENTIAL SELLING ON GBPNZDAs marked up previously this pair is showing selling potential. I have re-adjusted to current price action. GBPNZD Currently is at a point of Resistance where we could potentially see price move bearish to meet our target levels.
Entry, take profit level and stop loss has been marked, Do not risk more then 2% on this trade.
GBPNZD CLEAR BEARISH CONTINUATIONit clear forming LH LL
MONDAY, 18th May 2020
#GBPNZD SELL
ENTRY = NOW 2.03200
SL = 2.04200 (-100 PIPS)
TP = 1.98100 (+500 PIPS)
Disclaimer On
PLEASE USE YOUR OWN MONEY MANAGEMENT RULES
Your Money is Your Own Responsibility
GBP/NZD Bears looking to take price lowerLet's take a look at two worst performers of last week. We can see that price for this pair is at key resistance line of descending channel. Looking at price action more closely (1H chart) we can see that price has already showed us that bulls momentum has been cooling off. However, we will wait for next 4H candle to close before we will open any short positions. As many NZD pairs has showed us that the price is at key level we tend to believe that Kiwi will have better results upcoming week.
What do you think about this idea ? Let us know in comments and don't forget to hit that like and follow button to help us grow this channel :)
Good luck !
GBPNZD DA potential breakout of the candle pattern is expected on one scenario breaking for long to retest the possible resistances or alternatively downwards to continue the channel downwards
GBPNZD- TAKING FLIGHTPaperboiFX just gave us a buy gignal for gbpnzd
rsi is looking up
stochastic looking up
macd has crossed over and is going momentum
stop loss at previous swing low
take profit at 1:2 below previous swing high
GBP/NZD short-sell weekly chartGBP/NZD short-sell potential weekly chart overbought levels in rsi, bb, demarker
3:1 risk reward ratio 300 pips vs 900 pips high pennant resistance 2.100/ 2.0500 stop-loss, support low 1.900 target-profit
Economic calendar release for NZD RBNZ Interest rate decision 0.25% vs 0.25% and GDP for GBP (QoQ) -2.5% vs 0.0% (YoY) -2.1%vs 1.1%
Open Market in monday has potential (DCB) dead cat bounce 2.0420 oversold in demarker 30 mins - 4hr and trend continuation to downwards
