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British Pound / New Zealand Dollar

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GBPNZD trade ideas

GBP/NZD – Bearish Reversal Opportunity?In this analysis of GBP/NZD, the chart highlights the formation of a Harmonic Bat pattern, with price recently reaching point D and showing rejection at a significant resistance zone. This is a classic reversal setup, suggesting a potential bearish move, especially as the TDGMA indicator signals overbought conditions. 1.Short Position from Point D (Bearish Reversal) Rationale: The Bat pattern at point D offers a high probability for a bearish reversal, especially with confirmation from reversal candlestick patterns or bearish divergences in indicators. Price has already shown signs of rejection, reinforcing the short setup. Entry: Sell after confirmation, around the 2.140 zone. Take Profit (TP): 2.1177 Stop Loss (SL): 2.151 2.Sell After Retest of Resistance (2.1500) Rationale: If price moves back to retest the 2.1500 level after an initial decline, it could offer a controlled-risk selling opportunity. This level may act as resistance and trigger renewed selling pressure. Entry: Sell on retest of resistance at 2.1500 with weakness signals (e.g., reversal candlestick). Take Profit (TP): 2.1177 Stop Loss (SL): 2.16 The Bat pattern indicates a strong likelihood of bearish reversal at point D, making the short strategy a high-probability setup. While selling on retests could also be explored, it presents a slightly lower chance of success but still offers a potential opportunity. As always, keep an eye on lower timeframes for price action confirmation before entering.
Short
by MrVNpt
GBPNZD may come down from the resistance!Based on your analysis of GBPNZD, it appears you expect a bearish move from the current resistance level due to consolidation. Resistance Zone: 2.13723 to 2.13471 Support Zone: 2.10397 to 2.10002 Trading Plan: Entry Point: Sell at : 2.13621, which is near the current resistance. Take Profit : Target : 2.11624, positioned above the support level. Stop Loss : Set at : 2.15618, to protect against unexpected upward movement. This strategy leverages price action around support and resistance, anticipating that the price will reverse from the resistance and move lower towards the support. Just ensure you have solid risk management in place.
Short
by PraveenTrader1
2
GBPNZD Under Pressure! SELL! My dear friends, GBPNZD looks like it will make a good move, and here are the details: The market is trading on 2.1411 pivot level. Bias - Bearish Technical Indicators: Supper Trend generates a clear short signal while Pivot Point HL is currently determining the overall Bearish trend of the market. Goal - 2.1301 About Used Indicators: Pivot points are a great way to identify areas of support and resistance, but they work best when combined with other kinds of technical analysis ——————————— WISH YOU ALL LUCK
Short
by AnabelSignals
1