Gbpnzdsignal
gbpnzd buy setupDISCLAIMER:
My analysis is just a trading idea! As a trader you should consider your own risk:reward ratio and do proper lot sizing according to your margin and leverage level.
Good Luck!
GBPNZD, 4hr timeframe, Sell on retest of resistance areaHello my friends,
GBPNZD currently very interesting as price broken below the short term trend line.
Also noticed that the last 2 candles on this chart looks like a bearish pinbar / shooting star candle.
I tried selling GBPNZD on the retest of broken zone of previous double top pattern.
Sell GBPNZD 1.9960
Stop loss 2.0035
Take profit 1 @ 1.9860
Take profit 2 @ 1.9770
Use proper risk management
Only risk 1-2% of your equity
Moved SL to entry once price touched TP1
Good luck
GBP/NZD Technical Analysis
The counter has formed a topping out formation in the near-term.
It made a double top and has broken a key support level of 1.99508.
Further, the round number of 2.00 can act as a psychological barrier in the near-term.
Though a pullback to the top cannot be ruled out, we still expect the pair to be bearish in the near-term.
GBPNZD / BREAKOUT AND RETESTGBPNZD has broken through resistance, we are waiting for a retest of the area before buying towards the next resistance level
GBPNZD TRADE IDEAPRICE IS FORMING A DOUBLE BOTTOM AND YOU CAN GET IN AND STILL CATCH AROUND ABOUT 90 PIPS.
GBPNZD ANALYSISPRICE SHOWED A FAKEOUT THEN THE REAL PUSH OCCURED AND FORMED A DOUBLE BOTTOM. THE PRICE MAY GO BACK INTO CONSOLIDATION.
GBPNZD / BULLS IN THE HOUSEKeeping it simple and letting price dictate what it wants to do
Waiting for price to break resistance before first buy then doing the same with the second
There is divergence on multiple timeframes and price has broken a downward trend line (not drawn)
GBPNZD: Short term Bullish Idea can push it towards 1.98 - 2.0GBPNZD has reached to the bottom of the rising channel and is under bullish pressure from the divergence created between the price and MACD.
Fibo retracement of 50 & 61.8 coincides with the previous structural support now can be seen as resistance.
Price can bounce up to the zone of 1.98 - 2.00 and then turn bearish for the future continuation.
GOOD LUCK FOR YOUR TRADES !!! PLEASE SHOW YOUR SUPPORT IF YOU LIKED THE IDEA
GBPNZD - BUYOn this chart we can see a pull back that has occurred during this uptrend, a new level of support was found and price has come back to retest
We are already in this trade and I will be expecting price to bounce off this level and continue moving up
UPDATE: 465+PIPS IN PROFIT FROM ENTRY ON GBPNZDWe are currently more than 465+ pips in profit on this position from our entry. i have attached the initial analysis below.
Analysis for this trade was pretty simple and straight forward. Entry was marked using Fibonacci retracment at 50% of the previous bearish move.
I want to point out some other factors that are key to your success as a trader,
1. Keep your analysis plain and simple, you will not find consistency by trying to use a lot of tools, you will only contradict yourself
2. Always calculate your risk on a trade and use a stop loss, you will not lose sleep knowing you could lose 2% on a trade but you sure will lose sleep not knowing how much you're going to lose on a trade
3. Learn, understand and apply the concept of risk to reward ratios. And always trade with a healthy risk to reward ratio
4. Trust your trade and whole heatedly accept the fact that every single trade you take has potential to be loser and hit your SL
These factors are a few of many but you have to start somewhere. start applying them if you want to see a change.
POTENTIAL SHORT AFTER PULLBACK ON GBPNZD Price has fast approached our marked level of support. This set up is showing the potential to retrace at least 50% of the bearish move before advancing lower. Entry, stop loss and take profit have been marked.
Do not risk more than 2% on this date.
GBPNZD CLEAR BEARISH CONTINUATIONit clear forming LH LL
MONDAY, 18th May 2020
#GBPNZD SELL
ENTRY = NOW 2.03200
SL = 2.04200 (-100 PIPS)
TP = 1.98100 (+500 PIPS)
Disclaimer On
PLEASE USE YOUR OWN MONEY MANAGEMENT RULES
Your Money is Your Own Responsibility
GBP/NZD short-sell weekly chartGBP/NZD short-sell potential weekly chart overbought levels in rsi, bb, demarker
3:1 risk reward ratio 300 pips vs 900 pips high pennant resistance 2.100/ 2.0500 stop-loss, support low 1.900 target-profit
Economic calendar release for NZD RBNZ Interest rate decision 0.25% vs 0.25% and GDP for GBP (QoQ) -2.5% vs 0.0% (YoY) -2.1%vs 1.1%
Open Market in monday has potential (DCB) dead cat bounce 2.0420 oversold in demarker 30 mins - 4hr and trend continuation to downwards
