GBPNZD Short termWe are already short at 1.9679 for medium term idea, but i would suggest to add into this idea at 1.9498 for a target to 1.9233 with stop at 1.9577.
Gbpnzdsignal
GBPNZD MT Trade ideaGBPNZD price action contained within a multi-days bullish channel with new tops and lows, However the trend is strong but medium term momentum is slowing which is indicating a pullback. I am looking to short this market around 1.9675 area with a wider stop at 1.9855, expecting for a target around 1.9259 area.
GBPNZD daily cup and handle is in play. D1 TF H4 forecastIntraday Update: GBPNZD daily cup and handle is in play. next target 1.95000
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!
GBP/NZD Long OpportunityThere are several reasons why I want to buy this pair. From the Weekly Chart to the 30m Chart, all the way, the pair is bullish. Though my trade setup contains a small opportunity for Pips, the pair may make more upside but that is not confirmed yet from my point of view.
Inside bar at Support areaFor all we've known, formation of inside bars may mean two (2) scenarios: a reversal of the trend or a continuation of it. Since I'm already long Pound-Dollar, I will be looking to enter a long.
Be cautious of the incoming Great Britain election.
Buy GBP/NZD after the WeekendThere are several reasons why I have decided to buy this pair now.
# Daily Chart Horizontal & Pitchfork Support.
# Daily, 4Hr, 2Hr Chart MACD Hidden Bullish Divergence.
# Daily, 4Hr, 2Hr Chart Stochastic RSI "Over-Sold"
# 2 Hr Chart Harmonic Pattern Support.
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GBP/NZD Shorting OpportunityReasons:
Bearish Head & Shoulders @ Confluence of Resistance in higher time-frames.
Stoch RSI is now "Over Sold", so a pull-back is needed for further bearish continuation.
Past support should become future resistance and here we get a 61.8% Fibonacci retracement level as confluence.
Trade Safe. :)
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GBPNZD TREND LINE TESTNow that the down move has reached the up trend line it appears as if it is time to look for a run back to the upside. The trend line on the daily chart shows support at the moment and if it holds will provide a good reward to risk ratio.
GBPNZD I AM GOING TO SELL CURRENT MARKET AT 1.74366. STOP LOSS- 1.75700
IF MY STOP LOSS HIT I AM WAITING FOR RETRACE AND BUY FROM NEW SUPPORT ARIA..
GBP/NZD, DAY CHART, LONG (27-NOV-2016)We are still bullish for GBP/NZD.
After 3 white soldiers, we see a consolidation pattern formed near the support zone.
It might accumulating more pressure to break this support zone.
Once, the support zone was broken strongly by bullish trend bar.
It will be good chance to long.
Alternatively, need to wait weak pull back and long again.
Trade safely with proper risk management skill
