GBPNZD LONG TERM SHORT SETUPAppears to be in a corrective pattern.
I am anticipating a sell.
I've added some notes to the chart on my analysis.
Gbpnzdsell
Double Top | GBPNZDWaiting for the Daily Support to break to the down side
Currently acting as a Double Top on Daily
Long
GBPNZD ShortI expect gbpnzd to pull back to the 0.236 fib area which will also be testing the daily uptrend, the 100D EMA and key support area.
You can also see a double top highlighted on the chart
Then ill wait to see if it respects the uptrend for 4th time or look for short positions if trend is broken, retested and bearish engulfing candle
GBPNZD trade setup for coming weekGUYS you can see my previous anlysis of gbpnzd it reached its buy target nut now gbpnzd is not in good position either to enter on buy or sell in current point according to my anlysis when market opens gbpnzd can move to buy around 40 to 80 pips and make a tail in a day candle you can than enter on sell with small lot and than move in sell direction and once it started sell day candle than its target will be 2.04918 it may take tuesday to hit its target so you can gain 300++ pips but remember use small lots and move sl to profit according to the trade until it reached its target.
GBPNZD ShortPulled back to the .078 region on the fib after the last bull run, i expect a bearish pullback to the 0.5 or 0.618; possibly continuing down to test the 4H uptrend (and/or) weekly uptrend before then going long
GBPNZD may fall today vey stronglyGBPNZD is looking for long sell due to lot of sell pressure building from few days.our strong sell are begins from 2.05400.Our 1st sell target will be 2.04300 which is highly possible to be achieved while after little retracement as metioned in chart analysis,it may goes for 2nd target which will be 2.03400.
GBPNZD Short! 1hrNote: Idea is to complement your research.
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GBPNZD Short! 4HrNote: Idea is to complement your research.
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GBPNZD trade setup for next weekGbpnzd is testing its very main resistance at 2.10773 there are 90% chances after testing this resistance gbpnzd will change its buy trend and make a new sell trend but wait to enter in the market until it test and start coming down again so that we will confirm that it will go down now .
GBP/NZDResistance not broken on H1 and there's an ascending channel on H1 but this most likely will be broken.
Also, we can see a Double Top forming after the retrace and this pair may go down for another 400-500 pips
Two possible scenarios for GBPNZD next week.. On screen analysisWe are in the middle of a pandemic right now with everything that is going on with the Corona virus. It seems to me that Australia and New Sealand were hit hard economically and will be in the next few weeks. My eyes will be on a long trade to the same level of the spike on March 8 which is a Monthly support and resistance level @2.17
On the other hand there could be a big change of events which could lead to a decline in value of the British Pound. Therefor we will first see a clear break of the recent Up trend and probably support turning in to resistance @2.02. When this happens my target will be 1.94 in a short trade.
Trade with care and caution! I will keep you posted on this one.
BEAR Momentum | GBPNZDWeekly - We see a huge exhaustion which means an Impulse buyers were too weak so sellers push the momentum down
Daily - There was a major consolidation before breaking out with a bearish candle after a false breakout candle
4Hr - Market makes LH's with a breakout of the Major support
How to enter - We look for retracement on the Major support broken to catch a sell to the downside (Major move)
GBPNZD: WEAKNESS IN TREND.Thanks for Taking Interested in my Trading Idea.
GBPNZD: WEAKNESS IN TREND.
MARKET HAS PUMP VERY HARD TODAY LOOKS LIKE MARKET FILL DOWN FROM HERE
SHOWING WEAKNESS IN TREND.
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Note: This is only for Educational purposes; this is not investment advice.
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