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Gbpnzdsell

What's next for the British Pound?On several British Pound Forex pair, an ascending trend line on the daily time frame is on play. With them approaching the bottom of the bottom, are they to bounce or are they to break? In GBPNZD, we can see the it is consolidating at the bottom of the ascending trend line (possibly poised for a retest of the broken weekly descending trend line) which made it form a double bottom. However, if you look at the behavior of this Forex pair, it consolidates above a support (boxed) before descending strongly... did it twice. Watch for a signal to go long or short!
by bearvsbullmarket
Shorting Pound against NZD!Hey guys, this is the 4hr chart on GBPNZD. The yellow box i've drawn comes from the daily timeframe and it represents the structure zone that i'm paying attention to. Now, as soon as price entered the zone it found immediately some troubles breaking through, and you can say that simply by looking at the wicks. Actually, it has formed a nice double top, with RSI divergence in overbought condition. The pinbar followed by a red candle is a good sign of reversal. Stops above the highs, targets as illustrated above. Let's see how it plays out. If you want to ask questions or share your view, feel free to comment below. Otherwise, see you in the next chart!
Short
by Roker1
4
Short on Pound/NZD!Hey guys, this is the 4hr chart on GBPNZD. The yellow box i've drawn comes from the daily timeframe and it represents the structure zone that i'm paying attention to. Now, as soon as price entered the zone it found immediately some troubles breaking through, and you can say that simply by looking at the wicks. Actually, it has formed a nice double top, with RSI divergence in overbought condition. The pinbar followed by a red candle is a good sign of reversal. Stops above the highs, targets as illustrated above. Let's see how it plays out. If you want to ask questions or share your view, feel free to comment below. Otherwise, see you in the next chart!
Short
by Roker1
Bat formation ready to complete!Hi guys, today i want to share with you a simple harmonic pattern that's about to complete on GBPNZD. I'm really interested in this formation for it's completing right at a structure level that i've drawn on the daily chart and so we have an additional confirmation. Stops above X, targets as usual for harmonic patterns. If you want to share your thoughts or simply ask questions, feel free to comment below. Otherwise, see you in the next chart!
Short
by Roker1
GBPNZD - waiting for setup - SHORTShort description: Attached 2 charts. Left with wide W1 view and right zoomed to D1 TF (big yellow circle). At 3MN TF we have trend down, now price come back to retest near Supply Zone. At D1 TF great move (3 MOMO candles), price create clear and working D1 Demand Zone. At W1 TF we also have D1 Demand Zone (my TP?). I will waiting for price at W1 Supply Zone (RED ARROW) to search opportunity SHORT. At this ZONE we have two D1 Zone where price may fall down. If I have opportunity for long at lower TF I'll trading them ;) Good luck, and as I always say: be patience :)
Short
by loogaroo
2