FullTimeTrader
Short

GBPNZD-triple top with divergence near 2.4500

FX:GBPNZD   British Pound / New Zealand Dollar
1695 32 37
Very interesting and logical. This pair is facing a strong resistance near 2.4500
Even after NZD rate cut price could not break this level:


Here on H4 chart we see a triple top formation with strong bearish divergence.

I expect price to make a deeper pullback before continuing the rally on D1 chart.

Regards.

I find it funny how the people that criticized your analysis, and said how wrong you were going to be, are no longer around as price pushed through every target you set!!!! Great work once again!!! Thank you so much for allowing me to learn from your analysis!
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Okaslan Heelfan23
Agreed! Well said
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I see a breakout north. Good work as always. Thx
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I think this time it will go down close to 2.4..
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UPDATE: moving SL to BE
Important: please consider i do not always have time to post updates, every trader should actively manage the trade using proper MM. Regards.
+1 Reply
waqassab FullTimeTrader
yes...Thanx sir...
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Any update about this trade?
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dude, YOU'VE been charting GBPNZD serveral times , and everytime your bearish ideas smashed by the very bullish performance of this pair. in a very strong uptrend move, i think technical analysis doesn't work , good luck with your short stragety
+1 Reply
FullTimeTrader fdtbeijing
Thanks for your comment, can you share your trading plan or chart?
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fdtbeijing FullTimeTrader

hi, i know it feel very good when you catch the top and short at the right time, but i don't want to take the slim chance.
as for GBPNZD, it's bottomed for years, then we have this summer's break up, it's very significant. my trading stragety is very simple: in 2hour charts, every time MACD makes a crossover i buy. i don't know where the top is , but i only long in uptrend . good day
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