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Gbpnzdsignal

forex | GBPNZD multi timeframe analysis - long term sell tradelearn how to trade support and resistance with psychology trading areas ________________________________ starting with the monthly time frame we notice that we are in a strong downtrend so, we trade with the trend and start searching for selling opportunities. and we found that the price moving in sideways so, in this condition, we follow support and resistance strategy. moving down to the weekly chart, which confirms the support and resistance area. the daily chart we are in a clear uptrend so searching for selling opportunities is so risky right now. so we have to align our analysis with the COT report and draw an uptrend in a smaller time frame like 4hr chart and waiting for a break-out then we start selling with low risk.
Short
by UnknownUnicorn9076755
2
GBPNZD Elliot wave analysis in H4 GBPNZD Elliot wave analysis The fundamental factors has played key role in the recent downtrend in GBPNZD as the pandemic situation in England got worse and the economic condition in New Zealand was also in trouble and in some countries they re imposed some minor restrictions.Today the RBNZ has leave the rate unchanged this causing the further selling of GBPNZD in coming days. We can clearly see the price movement was within a broad rising channel and its about to reach the lower side of the trend line. And i am expecting further downside breakdown in coming days. Currently the Wave 02 was completed and Third major wave was underway.We can see a bearish engulfing pattern in 4 Hour time frame 1.94550 would be a desirable entry point for bear.The main bearish invalidation point was 1.97530
Short
by forexorbit
GBPNZD | Perspective for the new week | Follow-upFollowing Downing street’s lockdown exit plan; the Pounds appears to have found a platform to rise against the Kiwi as confidence in the UK economy resumes! With over 300pips in our favour since my last publication on this channel (see link below for reference purposes), we might be on the verge of a very LONG rally in the coming week(s) as the price seems to have established a Support @ NZ$1.88500/1.90000 area - a level which has been respected since the beginning of the year since the Breakout on the 15th of January 2021. Tendency: Uptrend ( Bullish ) Structure: Breakout | Supply & Demand | Reversal pattern (DB) Observation: i. The Bearish Impulse leg that began in March 2020 appeared to have found a bottom at around NZ$1.85000 to make a Double Bottom structure - a strong reversal pattern that incites Bullish tendencies. ii. My Key level identified @ NZ$1.90500 as been an area that dictated the momentum of price action since Nov 2020. iii. This Key level that has been a Supplication zone since Nov 2020 appears to have become a strong Demand level since Breakout (Jan 2021) followed by sharp rejection. iv. A quick look at my weekly chart supports completion of a reversal pattern as last week trading session culminates with a beautiful "hammer candle"! v. Last week Friday trading session experienced an engulfing Bullish candle spring out of Demand level to emphasize the strong presence of Buyers at this juncture in the market. vi. This been said, I shall be looking for buying opportunity anywhere above my Key level @ NZ$1.90500 in the coming week(s) to take advantage of this rally. Trading plan: BUY confirmation with a minimum potential profit of 800 pips. Risk/Reward : 1:5 Potential Duration: 20 to 40 days NB: This speculation might be considered to make individual decisions on the lower timeframe. Watch this space for updates as price action is been monitored. Risk Disclaimer: Margin trading in the foreign exchange market (including foreign exchange trading, CFDs, etc.) has a high risk and is not suitable for all investors. The content of this speculation (including all data) is organized and published by me for the sole purpose of education and assistance in making independent investment decisions. All information herein is for your reference only and I take no responsibility. You are hereby advised to carefully consider your investment experience, financial situation, investment objective, risk tolerance level, and consult your independent financial adviser as to the suitability of your situation prior to making any investment. I do not guarantee its accuracy and is not liable for any loss or damage which may result directly or indirectly from such content or the receipt of any instruction or notification therewith. Past performance is not necessarily indicative of future results.
Long
by darcsherry
2
GBPNZD | Perspective for the new weekDespite the UK’s coronavirus pandemic situation... I still hold on to an overall Bullish perspective due to the reversal structure (the culmination of 127.2 ext Bearish run) cited on my Daily chart; I am of the opinion that price is at a juncture where the opportunity for a quick counter-trend trade is possible before the rally begins! Tendency: Short term Downtrend ( Bearish ) Structure: Double Top | Supply & Demand Observation: i. Double Top: The appearance of an extremely bearish reversal pattern forms after the price reach a peak at two consecutive times with a moderate decline between the two highs (NZ$1.92150/1.91980). ii. Though it is generally accepted that sell confirmation happens once the price falls below the demand level equal to the low between the two peaks (NZ$1.92150/1.91980), Considering the present pattern, I shall be tweaking this concept lil' bit by making a Sell window at the new Supply level @ NZ$1.91000 in the coming week. iii. For those who are a little bit cautious, we can hold till price breaks neckline @ NZ$1.89000 area for confirmation. iv. Please note: I am of the opinion that the exhaustion of bearish move after Breakdown of the neckline will be resulting in a Big rally in the future! Trading plan: SELL confirmation with a minimum potential profit of 350 pips. Risk/Reward : 1:3 Potential Duration: 8 to 15 days NB: This speculation can be considered to make decisions on lower timeframes. Watch this space for updates as price action is been monitored. Risk Disclaimer: Margin trading in the foreign exchange market (including foreign exchange trading, CFDs, etc.) has a high risk and is not suitable for all investors. The content of this speculation (including all data) is organized and published by me for the sole purpose of education and assistance in making independent investment decisions. All information herein is for your reference only and I take no responsibility. You are hereby advised to carefully consider your investment experience, financial situation, investment objective, risk tolerance level, and consult your independent financial adviser as to the suitability of your situation prior to making any investment. I do not guarantee its accuracy and is not liable for any loss or damage which may result directly or indirectly from such content or the receipt of any instruction or notification therewith. Past performance is not necessarily indicative of future results.
Long
by darcsherry
7