Gbpnzdb
GBPNZD Bounce Back or Keep Dropping?DISCLAIMER: Hi everyone, I'm new to trading and this is just a log book for me on applying everything that I have learned and continue to learn as I go along. That being said, I do not advise you to base your trading on these "ideas".
I've been looking at the British Pound/New Zealand Dollar pair for a while trying to think of where it might go. It's been on a down trend for quite a while now. Now the price actually dropped to a new low on November 8th since 2009, with the whole Brexit of it all. Now, seeing as how thats a new low, will it bounce back on the long run or keep heading south?
On one hand since the 8th of this month, when it hit that new low it seemed like it would bounce back. But the price didn't go too high, it hit a previous resistance (blue line) from September 28th. But on the other hand, the pair set up a support level as well (orange line).
Looks like I'm gonna have to show a little patience. If it doesn't break that resistance, if it breaks support, and my indicators are strong on the new trend, I'm gonna look for a short. As far as looking to see if it will be a buy that might take a lot more time and patience for something that might not come.
Gbp will Move up Soon waiting to break the trend line near the higher low at 1.715 First R1.7384 2R 1.772
GBP/NZD, 240 CHART, H4 CHART, LONGFinally, GBP/NZD pair breaks the resistance zone strongly.
In H4 Chart, there is a corrective pullback sit well on the previsous resistance zone.
It will be a great trade to long when there is a strong bullish bar appears as a signal to entry :)
It will be a less risk with huge potential return trade :)
GBP/NZD, LONG, DAY CHART (13-NOV-2016)3 white soldiers (3 strong bullish trend bars) show the strength of bullishness.
Watch if the price can break through the resistance zone near 1.77xx.
It will be good to entry when the price pull back to the resistance zone again!
Enjoy your day :)
GBPNZD LONTERM TRADEPRICE BROKE FROM THE MAJOR SUPPORT TREND LINE.
WAIT FOR PRICE TO JUST TOUCH THE 0.618 FIB IMPORTANT LEVEL (1.77927).
PLACE A BUY AT 1.7700 WITH A STOP LOSS AT 1.77530.
NO PROFIT TARGET. FOLLOW THE NEW TREND AND LET THE PIPS COME TO YOU.
it's a long position on GBP NZD Its the third time at the same level market rebound and the triangle more explored to us after breaking the down trend and testing it again we are sure market will go up to 1.8041 this level our first target and under the new low is our SL .
Good luck ..
