Reasons:
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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Hey guys,
this is the 4hr chart on GBPNZD. The yellow box i've drawn comes from the daily timeframe and it represents the structure zone that i'm paying attention to. Now, as soon as price entered the zone it found immediately some troubles breaking through, and you can say that simply by looking at the wicks. Actually, it has formed a nice double top, with RSI...
Hey guys,
this is the 4hr chart on GBPNZD. The yellow box i've drawn comes from the daily timeframe and it represents the structure zone that i'm paying attention to. Now, as soon as price entered the zone it found immediately some troubles breaking through, and you can say that simply by looking at the wicks. Actually, it has formed a nice double top, with RSI...
Spotted a bearish bat pattern on GBP/NZD. Would you agree? I'm looking to enter Short, with a small position, slightly below point (D). TP @ .382 fib retracement. SL just above (X)
Hi guys,
today i want to share with you a simple harmonic pattern that's about to complete on GBPNZD. I'm really interested in this formation for it's completing right at a structure level that i've drawn on the daily chart and so we have an additional confirmation.
Stops above X, targets as usual for harmonic patterns.
If you want to share your thoughts or...
Hi guys,
today i want to share with you a simple harmonic pattern that's about to complete on GBPNZD. I'm really interested in this formation for it's completing right at a structure level that i've drawn on the daily chart and so we have an additional confirmation.
Stops above X, targets as usual for harmonic patterns.
If you want to share your thoughts or...
Short description:
Attached 2 charts. Left with wide W1 view and right zoomed to D1 TF (big yellow circle).
At 3MN TF we have trend down, now price come back to retest near Supply Zone. At D1 TF great move (3 MOMO candles), price create clear and working D1 Demand Zone. At W1 TF we also have D1 Demand Zone (my TP?).
I will waiting for price at W1 Supply Zone...
