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:
snapshot


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.

Miltonfx
a year ago
But that to happen gbpusd must come under 1.50 immediately and Nzdusd keeping the current levels. I believe 2.48 first
Reply
FullTimeTrader Miltonfx
a year ago
Hello, i think correlation works but not to the pip, its only addtional information. Every chart is unique.
No problem, you can wait for your level to be reached, my reasons are above. Regards.
+1 Reply
ChimbOt PRO
a year ago
Enterd short
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ChimbOt PRO ChimbOt
a year ago
another tap at resistance
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Cainara
a year ago
I'm with you my friend!
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fdtbeijing
a year ago
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
a year ago
Thanks for your comment, can you share your trading plan or chart?
Reply
fdtbeijing FullTimeTrader
a year ago
snapshot

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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FullTimeTrader fdtbeijing
a year ago
Good analysis, i will consider it. Regards.
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ChimbOt PRO FullTimeTrader
a year ago
very professional
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KashmiraOswal fdtbeijing
a year ago
Very nice analysis
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ChimbOt PRO fdtbeijing
a year ago
mad about to cross down on 2hr
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ChimbOt PRO fdtbeijing
a year ago
macd about to cross down on 2hr
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fdtbeijing ChimbOt
a year ago
man, yes MACD is about to crossdown, let's wait and keep patient. when MACD bellow 0 and make a crossup, buy and don't forget setup a stop loss. good luck with your trading
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kmk.msp fdtbeijing
a year ago
in which time frame you prefer MACD Crossover
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EJ200 kmk.msp
a year ago
2h is my most frequently trading timeframe, and sometimes 4hs. it depends on the strength of my target pairs. for example GBPNZD i prefer 2h timeframe and EURAUD i prefer 4h timeframe just for assurance. regards
Reply
DigitalMan PRO fdtbeijing
a year ago
@fdtbeijing is that your trading strategy??
Reply
EJ200 DigitalMan
a year ago
i've off work and have to use my personal account to reply . my trading stragety: find the strong currency vs weak currency pair. for months , i believe GBP is the strongest ,and commodities are weakest ones, i trade GBP/NZD, GBP/CAD GBP/AUD. i know there's many divigence as thest GBP pairs soar up, and its seems rediculous that it dons't come down. follow trend, follow the strongest trend. more specifically, i trade in 2h timeframe. hopefully you can understand my english, i work in beijing. regards
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DigitalMan PRO EJ200
a year ago
Yes, I understand, thanks.
Reply
Mbhekeni fdtbeijing
a year ago
soory guys, can someone explain to me, does a divergence signals bearish ?

+1 Reply
Okaslan fdtbeijing
a year ago
All I have to say is "LOL"
Reply
KevinSinghDhaliwal fdtbeijing
a year ago
technical analysis doesn't work?
+1 Reply
EJ200 KevinSinghDhaliwal
a year ago
apologize, i mean many text book bearish indicator don't work. furthermore. GBPNZD is losing a little bit steam, but i still believe its one of the strongest pairs. buy the dip and good morning
Reply
Okaslan fdtbeijing
a year ago
I think you should take your words and stick them up ***. His technical analysis is spot on! (Check the market turd)
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KevinSinghDhaliwal Okaslan
a year ago
LOL exactly
Reply
waqassab
a year ago
Any update about this trade?
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FullTimeTrader
a year ago
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
a year ago
yes...Thanx sir...
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ChetanFX
a year ago
I think this time it will go down close to 2.4..
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Lanmar PRO
a year ago
I see a breakout north. Good work as always. Thx
snapshot
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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!
Reply
Okaslan Heelfan23
a year ago
Agreed! Well said
Reply
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