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Gbpnzdshort

GBPNZD (SHORT) 🔥🔥🔥Multi confluences playing out on the chart. We expect the market to reverse at the OB. We can also see the price struggling to the upside which indicates weaker BULLS. Risk Disclaimer: Please be advised that I am not telling anyone how to spend or invest their money. Take all of my analysis as my own opinion, as entertainment, and at your own risk. I assume no responsibility or liability for any errors or omissions in the content of this page, and they are for educational purposes only. Any action you take on the information in this analysis is strictly at your own risk. There is a very high degree of risk involved in trading. Past results are not indicative of future returns. Good luck
Short
by Thewest-sidetrader
What's next for GBPNZD?We would appreciate your opinions in the comment section. What's next for GBPNZD? If you take a closer look at our previous week's GBPNZD idea, you can see everything went as planned. Price continued its bearish movement by creating retracement and then an extension. Currently, we could be in another retracement, as a bearish flag is still in formation. Possible turning points would be 31.8, 50 and 61.2%. Right now, the price is at 31.8% of the retracement. The last 4H candle signals uncertainty of the price movement, meaning the next candle could be crucial. Watch out for channel breakouts, be patient for a good pullback, bounce and then enter your position. The first target should be 1,9000.
Short
by SYMA_FOREX
GBPNZD DAILY ANALYSIS, the bottom trendline is yet to be touchedFirst, let us cover some historical points in GBP/NZD's near history. Looking at the chart, we've formed an uptrend channel with a tremendous down movement over the last two weeks. It doesn't surprise us, as the bottom trendline is yet to be touched. The area around 1.90000 seems like a perfect fit for a bounce. Previous lower low could be our potential area of a stop loss. Throughout the next few days, we will see whether the power of the bears has weakened. Look for reversal patterns and catch the wave to the top. TP areas used were previous support/resistance areas. Use this information at your own risk. This analysis is to point out the high probability key points. For day traders, it is crucial to know the bigger picture. Have fun trading!
Short
by SYMA_FOREX
GBPNZD SHORTBy looking at the price action, its easy to see that the pair has been moving in a bullish direction for several days, since early November 2021 to be exact. Current price action shows an indication of potential market exhaust which could result in a bearish short term correction. Looking at the daily chart we see 3 potential confluences/reasons which is in line with our directional basis on the pair. A Double Top pattern formation, followed by a trendline breakout and key level breakout which signals a change in market structure from bullish to bearish. We will be looking to enter on the rest of this key level and expect price to spike up sharply before a continuing to the downside. Risk Reward of this particular trade currently stands at 8.76:1.
Short
by NDOBObanks