AnandYRaja
Long

GBPNZD long setup wave iv forming

FX:GBPNZD   British Pound/New Zealand Dollar
GBP/NZD looks like it is forming a complex wave iv. This pair has been on a strong upward trend since April             . Please also note that the RBNZ monetary policy meeting takes place on Wednesday 22th July and they are expected to cut interest rates.

So far price looks like it is dropping as a W X Y double Zig Zag correction. I have labelled waves W X and a of y and b of y.

I can see us coming towards the end of wave c of y. I have labelled waves 1,2 and 3 of c with waves 4 and 5 to come.

I am looking for the correction to stop in the 2.3750 - 2.3660 area. The 1.27 extension of w is at 2.37161 and the 2.618 extension of a is at 2.37114.

I am looking to add to my longs (currently open from 2.3380) in the 2.37 area and am looking for an initial target of 2.4180




Long GBP/NZD @ 2.3815.
Stop 2.3757.
Target 1 : 2.4266
Target 2 : 2.4579
Risk : 58 pips.
Target 1 : 451 pip
Target 2 : 764 Pips
+1 Reply
United States
United Kingdom
India
Deutschland
France
España
Italia
Polska
Türkiye
Россия
Brasil
Indonesia
Malaysia
Việt Nam
日本
한국
简体
繁體
Home Stock Screener Forex Signal Finder Cryptocurrency Signal Finder Economic Calendar How It Works Chart Features House Rules Moderators Website & Broker Solutions Widgets Stock Charting Library Feature Request Blog & News FAQ Help & Wiki Twitter
Profile Profile Settings Account and Billing My Support Tickets Priority Support Contact Support Ideas Published Followers Following Private Messages Chat Sign Out