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GBPNZD trade ideas

GBPNZD Will Go Down From Resistance! Short! Here is our detailed technical review for GBPNZD. Time Frame: 6h Current Trend: Bearish Sentiment: Overbought (based on 7-period RSI) Forecast: Bearish The market is approaching a key horizontal level 2.127. Considering the today's price action, probabilities will be high to see a movement to 2.116. P.S We determine oversold/overbought condition with RSI indicator. When it drops below 30 - the market is considered to be oversold. When it bounces above 70 - the market is considered to be overbought. Like and subscribe and comment my ideas if you enjoy them!
Short
by SignalProvider
1
GBPNZD Technical Analysis! SELL! My dear friends, Please, find my technical outlook for GBPNZD below: The price is coiling around a solid key level - 2.1281 Bias - Bearish Technical Indicators: Pivot Points Low anticipates a potential price reversal. Super trend shows a clear sell, giving a perfect indicators' convergence. Goal - 2.1157 Safe Stop Loss - 2.1354 About Used Indicators: The pivot point itself is simply the average of the high, low and closing prices from the previous trading day. ——————————— WISH YOU ALL LUCK
Short
by AnabelSignals
2
Lingrid | GBPNZD double TOP the RESISTANCEFX:GBPNZD has fallen below the 2.1300 resistance zone. Observing the past few daily candles, we can see the formation of rejection bars with long wicks, indicating potential bearish pressure in the market. Recently, the market has also formed a double top pattern, suggesting that bullish attempts were rejected twice, reinforcing the selling sentiment. Given this price action, I expect the market to move lower, potentially breaking through the upward channel that has formed. This channel appears to be a pullback against the overall major bearish trend, and a successful break below it would likely signal further downside momentum. My target is the support level at 2.11800 Traders, if you liked this idea or if you have your own opinion about it, write in the comments. I will be glad 👩‍💻
Short
by Lingrid
3
GBPNZD- Head And Shoulder PatternHead and Shoulders Pattern: Left Shoulder: The first peak, followed by a dip. Head: A higher peak, representing the top of the trend. Right Shoulder: A lower peak than the head but similar in height to the left shoulder. This pattern suggests a bearish reversal from an uptrend to a downtrend. Entry Point: Price has broken below the neckline (2.12636), indicating the potential start of the bearish move. Stop Loss and Take Profit: Stop Loss: Placed above the right shoulder at 2.13040, protecting the trade from potential false breakouts. Take Profit: Target level is set around 2.11473, based on previous support levels or a measured move projection from the head. This chart suggests a potential sell opportunity based on the head and shoulders pattern, with risk management implemented via stop loss and take profit levels.
Short
by factoryforex01
2nd attempt to short GBPNZD .. the week of 09 Sep 2024My 1st attempt had failed, perhaps partly due to incorrect identification of support/resistance. Entry - approx. 2.1200 (deliberately late to be under the 20sma on H4 time frame) Stop - above the recent high at 2.1330 1st target - 2.0900 Possible potential to take this down to 2.0600 region (The outcome of this trade really depends heavily on the 2.1250 area holding as resistance). This is not a trade recommendation. You should be aware that trading carries a high level of risk, so only trade with money you can afford to lose. Please use sound money and risk management, trading without a stop or moving the stop away from price is a recipe for disaster. If you like my idea, please give a “boost” and follow me to get even more. Please comment and share your thoughts too!! It’s not whether you are right or wrong, but how much money you make when you are right and how much you lose when you are wrong – George Soros
Short
by Trading_Vista
4