WSM
Short

GARTLEY GIVE DOUBLE TOP AT STRUCTURE REASON FOR HUGE SHORT

FX:GBPNZD   British Pound / New Zealand Dollar
88 7 1
.

Related Ideas

Do you think this up trend is dying out?
Reply
GcNaif MOD ForceFollower
on this pair ,these days we have to see weekly to get clear picture, it looks like its heading for 2.155, it did break that long term resistance around 2.088x ,which could very well act as new support area.
snapshot
+1 Reply
I agree. That's been exactly my point as well:
Reply
WSM ForceFollower
i was checking all of that before i publish the idea but as a fact without getting complicated,i don't trust the break out as ABCD pattern completion out side which is a reason for reverse and the other reason is a completion of ELLIOTT waves right at the break out and RSI divergence with daily time frame strong rejection give the wick you see at the beginning of the trend line and in the end the break out just putting you in a perfect ascending channel at the close avoiding all the wicks
Reply