GBPNZD OLHC (BUY) POSSIBLE MONTHLY STRUCTUREGBPNZD OLHC (BUY) POSSIBLE MONTHLY
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DAILY TIMEFRAME shows price has also not found support. We waiting on priceline to cross above bloodline to
confirm strong support so we buy. My target will be back to the monthly open if price finds support.
Trade with Caution. Wait for valid entries.
P A T I E N C E + D I S C I P L I N E
Gbpnzdlong
GBP/NZD BUY 📈👋 Hello and welcome traders to another trade idea with Fobian
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👉 WE have Signal for BUY:
- Price get out of Asian session.
- We have signal for BUY from zone to zone.
- We get involve in this trade.
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GBPNZD, 4hr tf, buy above the kumo cloudHello my friends,
Yesterday i take a buy position on GBPAUD and it is has already hit TP1. I already take partial profit on it and set remaining position on breakeven for a risk free position.
For today i am taking another buy position with GBP cross pairs. This time is GBPNZD.
Noticed that price above the green kumo cloud on 4hr tf and parabolic SAR below the price. So we will only look to buy as the pair are bullish on 4hr timeframe.
At 1.9570 there is some support that could hold price from going further down. There is a horizontal support and notice it is also the 61.8 fibonacci retracement of recent upward swing.
Buy GBPNZD 1.9570
Stop loss 1.9490
Take profit 1 at 1.9650
Take profit 2 at 1.9730
RR Ratio is 1 : 2
Use only 1-2% risk
Good luck
GBPNZD long trade ideaPlan: resistance level breakout --> wait for the price to bounce off from support level --> wait for the rejection candle pattern to form e.g. bullish engulfing, pinbar, etc --> BUY
**Disclaimer** the content on this analysis is subject to change at any time without notice, and is provided for the sole purpose of assisting traders to make independent investment decisions.
Traders!! if you like my ideas and do take the same trade as I do, please write it in a comment so we can manage the trade together.
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Thank you for your support ;)
GWBFX
GBP/NZD BUY 📈👋 Hello and welcome traders to another trade idea with Fobian
☝️ Firstly, if you like what you see, please support our work by writing a comment and SMASH that like button! 👍 Let's catch these moves together! ✅
👉 WE have Signal for BUY:
- Price get out off the triangle.
- MACD give us signal for BUY.
- We get involve in this trade.
💡 Why should you follow our profile on TradingView?
Consistent chart updates
Clean charts
Short and long-term perspectives
Visually teaches you valuable lessons
High probability setups
Analysis on a wide range of major markets
SMASH that follow button! 👍
💡 Leave a comment and/or message us on how we can improve and provide better content, we are open to suggestions to create a better experience for you!
Keep in mind that the analysis provided is not 100% accurate and that you can never be certain with the markets. This information given is not financial advice, always do your own research.
GBPNZD Sets To Complete Bullish Zigzag PatternSupport this analysis with your likes and comments!
GBPNZD 4-hourly chart above reveals what can be seen as a five-wave impulse pattern, labeled (1)-(2)-(3)-(4)-(5). According to the EW theory, impulses show the direction of the larger trend and a three-wave correction follows every impulse pattern.
In GBPNZD's case, the correction unfolded a (w)-(x)-(y) double zigzag pattern. The pullback seems to have completed as it rejected a swing level, contained with a channel, and drop bullish price action signals.
According to Elliot Wave's theory, once a 5-3 (impulse-corrective) cycle is completed , the market should resume in the direction of the impulse which is bullish in GBPNZD case.
The break of the green line will confirm that the bulls have takeover.
The red line is the invalidation level for this setup.
Targets above wave "a" high is plausible in the days ahead.
What's your view on GBPNZD? Let me know in the comment!
Thanks,
Veejahbee.