Bearish drop?GBP/NZD is reacting off the resistance level which is an overlap resistance and could drop from this level to our take profit.
Entry: 2.2060
Why we like it:
There is an overlap resistance level.
Stop loss: 2.2191
Why we like it:
There is an overlap resistance level.
Take profit: 2.1898
Why we like it:
There is an overlap support level that aligns with the 50% Fibonacci retracement.
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NZDGBP trade ideas
GBPNZD Trading Opportunity! BUY!
My dear subscribers,
My technical analysis for GBPNZD is below:
The price is coiling around a solid key level - 2.2036
Bias - Bullish
Technical Indicators: Pivot Points Low anticipates a potential price reversal.
Super trend shows a clear buy, giving a perfect indicators' convergence.
Goal - 2.2185
My Stop Loss - 2.1959
About Used Indicators:
By the very nature of the supertrend indicator, it offers firm support and resistance levels for traders to enter and exit trades. Additionally, it also provides signals for setting stop losses
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WISH YOU ALL LUCK
Sell GBP/NZD Bearish FlagThe GBP/NZD pair on the M30 timeframe presents a potential selling opportunity due to a recent downward breakout from a well-defined Bearish Flag pattern. This suggests a shift in momentum towards the downside in the coming Hours.
Key Points:
Sell Entry: Consider entering a short position around close to the breakout level. This offers an entry point near the perceived shift in momentum.
Target Levels:
1st Support – 2.1994
2nd Support – 2.1920
Your likes and comments are incredibly motivating and will encourage me to share more analysis with you.
Best Regards, KABHI FOREX TRADING
Thank you.
Weekly CLS, Key level - Daily FVG +Ob, Model 1, Bullish OFWeekly CLS, Key level - Daily FVG +Ob, Model 1, Bullish OF
you are welcome to comment with your thoughts and share your charts or questions below, I like any constructive discussion.
What is CLS?
This company is trading for the biggest investment banks and central banks. They trade over 6.5 trillion daily volume. They are smart money of the all markets.
CLS operates in the specific times which will give you huge advantage and precisions to you entries. Focus on that. Its accuracy is amazing.
Good luck and I hope this educational post helps to become better trader
“Adapt what is useful, reject what is useless, and add what is specifically your own.”
Dave FX Hunter ⚔
GBP/NZD Analysis:
AB = 78.6% Retracement:
This indicates that the AB leg was a deep retracement, forming the basis for the harmonic pattern. A deep retracement like 78.6% usually means the likelihood of a significant reversal increases when the D point is reached.
BC = 123.6% Extension:
The BC leg is extended, meaning the BC movement is wide. This could indicate that GBP/NZD is experiencing strong momentum, but it could also be a sign of "overextension."
CD = 141.4% Extension:
The CD leg is nearing the end of the harmonic pattern. The D point, which is where a reversal is expected, will be around the 141.4% of XA. This is the critical point where a decision can be made (buy or exit).
Risk and Reward:
Reward: If the D point holds (a reversal occurs), you can gain significant returns from the reversal. For instance, you could benefit from a strong upward (buy) or downward (sell) move when the price leaves the Potential Reversal Zone (PRZ).
Risk: If the D point is breached, GBP/NZD may continue its movement and break the harmonic pattern. This could lead to losses if you hold onto the wrong position.
Recommendations:
Wait for GBP/NZD to reach the D point (141.4% Fibonacci Extension).
Look for confirmation signals such as:
Divergence (MACD or RSI).
Candlestick patterns (e.g., engulfing candles or pin bars).
Make sure to use a stop-loss to protect in case the D point is breached:
Set your stop-loss outside the PRZ.
Reward-to-Risk Ratio: Aim for a reward at least 2:1 in relation to the risk you're taking
Daily Strong BUY Level GBPNZD - 2.18565 A straightforward yet effective strategy: a strong daily level for profit-taking following a significant downward move. The first target is 2.18998, with a small runner left in place in case of a rebound to higher levels. Please let me know if you have any questions.
update. caught the recovery. played outThis Analysis Can Change At Anytime Without Notice And It Is Only For educational Purpose to Traders To Make Independent Investments Decisions.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView
GBPNZD-SELL strategy 2-Daily chart The pair has seen again lofty heights, but usually, when we spike above the regression channel, the pair must return over time to the mid-range at least. In combo with an overbought state, I feel we may see 2.1850 area in some weeks to come.
Strategy SELL @ 2.2300-2.2375 range and take profit at 2.1875 for now.
GBPNZD-SELL strategy Daily chart (as well as 3D) chartThe pair is very overextended, in terms of RSI reading, even though we are in still a slightly upwards short-term move, and soon exhaustion is my viewpoint. The regression channel is useful as it intends to show severe outbreaks, and we have broken out and it requires a solid correction back to 2.1900 near-term.
Strategy SELL 2.2325 - 2.2425 range and take profit near 2.1875 for now.
GBPNZD: Correction Before the Next Leg Down?In GBPNZD, it appears we have completed a five-wave structure to the downside. Following the current correction, likely taking the form of a three-wave structure, I anticipate the market will resume its decline, continuing the broader bearish trend. Traders should watch for the correction to complete before considering short positions.
updateThis Analysis Can Change At Anytime Without Notice And It Is Only For educational Purpose to Traders To Make Independent Investments Decisions.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView