Description
⋅ GBP/NZD is trying to break its resistance.
Forming a CUP pattern on the weekly pushing against resistance at 1.9144
Daily shows an igniting rising 3 pattern, this being a good bullish sign.
The 4H is currently in an ABC pullback.
RSI Bullish across all time frames.
Will enter this trade at the break of resistance.
Entry - 1.9415
Target 1 - 1.95606
Target 2 - 1.97563
Order cancelled
⋅ Price is now falling away from the resistant level and did not get the buy signal, therefore trade was not entered.
This pair is still ok but i will wait for price to build back up to the resistant zone before looking for another entry.
Only the daily chart this could be forming an inverse head and shoulders, i will keep and eye on this pair and release a new signal later.
Comment
⋅ As mentioned before the right shoulder is starting to form now
Comment
⋅ We can see here how price formed that right shoulder on the daily before breaking through resistance and pushing up