GBPNZD Trade IdeaA short trade opportunity has just presented itself on the GBPNZD trading chart!
This is evident from the bearish inverted pin bar candlestick which closes just below the 1.94773 daily horizontal resistance level and signals a rejection of the price level.
A stop at 1.95186 (about 45.1 pips) and a target at 1.92400 (about 233.5 pips) could see you in the region of a 5.18 reward-to-risk ratio.
As always, "Look first, then leap."
Happy trading!
Your FX Plug
Poundkiwi
GBP/NZD_1H_ShortShort position taken – 1H - Although in bigger timeframes the trend was bullish but it showed weakness and cannot pass the last week high and reverse from it. In 1H timeframe, it broke the last low (1.96205) which created last high and also it passed the ascending komu. I entered the short position and the TP is last week low.
R/R = 1:2.07
GBP_NZD_4H_LongThe long position is taken – 4H -Daily timeframe I checked and last day candle barriers are HL and HH, in 4H also I see the start of a movement from a 4H demand zone, although price broke an ascending channel it was above a fat ascending komu. Also in lower timeframes, I see HL and HH. I enter the long position and the TP is last week High.
R/R = 1:1.1
RETESTING AREA OF SENSITIVITY TO GO SHORT- Price has been supported for a trendline since last December
-Broke out to the down side
- Now retesting
- Pin bar in the H4 rejecting area of resistance (there's also a candle in the daily chart rejecting this area)
- Waiting for confirmation (e.g. bearish engulfing candle)
- Posible target to previous area of buyers
What do you think?
gbpnzd long term sell#gbpnzd is currrently sitting near a weekly resistance of 1.94516 and is retesting the area. It had a clean break to the downside, is retesting, and if the ceiling holds, could mean months of bearish momentum. With the setup that i have made, it is about a 300 pip risk before the Stop loss and a 2,250 pip gain down to the previous low of 1.68607. I think if you are a long term swing trader this could be your money trade for the year.
GBP / NZD - Sell into resistance - SHORT The GBP has shown a little strength (and I mean a little), more sideways movement, but this could get us back up into an area of resistance I've marked on the chart, then we'll sell that down to the final target of the attached much bigger Head and Shoulders move that I'm still in since May 16 from the top of the Right shoulder.
GBPZD (PoundKiwi) - Potential Bearish Bat or CrabI am not in the trade yet, since thhe pattern has both characteristics, that of a bat and that of a crab. If it's a Bearish Bat, I'll be waiting for thhe break of the blue full trend and my target will be the dotted trend. But, in thhe case of a break above the Resistannce level in blue. I'm expectinnng a Bearish Crab Formation before shorting.
Trade with care ( This is NOT a signal, just an idea) Compare it with yours and you can share yours in a comment, that would be preferable.