GBP/NZD Touching Neckline of monthly iSHS = Countertrend set up?
Formely published long scenario has not been triggered.
But we see with today´s candle that price has triggered the neckline of the inverted S-H-S which initiated the huge rallye which we saw between may and august last year.
This circumstance combined the fact that prices are almost on the bullish wedge´s lower trend support line (oversold marked phase) may be a reason for a countertrend set up on lower time frame.
I will prepare myself for a bullish trade set up!
Important: :-)
If you like my analysis and find it useful, please take a second and hit the LIKE button and follow me. It takes some time to create these posts and your LIKES let me know it is helpful to you. As always, any comments are welcome. Agree or disagree.
Please remind yourself that this is just my personal view on the market and you always should do your own analysis before trading. My Analysis should not serve as any recommendation to buy or to sell. My analysis are just my ideas and opinion how market could develop.
But we see with today´s candle that price has triggered the neckline of the inverted S-H-S which initiated the huge rallye which we saw between may and august last year.
This circumstance combined the fact that prices are almost on the bullish wedge´s lower trend support line (oversold marked phase) may be a reason for a countertrend set up on lower time frame.
I will prepare myself for a bullish trade set up!
Important: :-)
If you like my analysis and find it useful, please take a second and hit the LIKE button and follow me. It takes some time to create these posts and your LIKES let me know it is helpful to you. As always, any comments are welcome. Agree or disagree.
Please remind yourself that this is just my personal view on the market and you always should do your own analysis before trading. My Analysis should not serve as any recommendation to buy or to sell. My analysis are just my ideas and opinion how market could develop.
