Synapse
Long

GBPNZD - Bulls on the Radar for Big Rise Again

FX:GBPNZD   British Pound/New Zealand Dollar
340 5 10
9 months ago
Greetings Fellow Traders,

Feel free to take a look back on my GBPNZD             analyses over the last several weeks/months, you know that I've had my eyes on a price channel that we've been trading in. This price channel if/when broken signifies a bullish continuation on a much larger scale (daily/weekly). It's something we have not been able to confirm but we are very close.

This past week, GBPNZD             saw a fall back to the 2.15 level before rising almost 400 pips to finish the week off. I've posted the 4 hour chart here to look at possible ways for us to reach the upper resistance level.

However, here are the Daily and Weekly charts to give you a little more perspective.

On the Daily Chart you can see the potential double bottom. What better place to start a bullish continuation than from a double bottom. Remember though if you trade this pattern, that it's actual trade comes from a break of the peak between the two, in this case almost 2.25. My Bullish entry will occur long before this.
snapshot


On the Weekly Chart we see a nice long wick with an ever so slightly bullish body. A break of the key technical resistance could bring a massive rise this next week.
snapshot


Feel free to comment/like/follow
9 months ago
Comment: Looks like we may have a Triple bottom on lower time frames. The support between the 2 identified lows was well defended - if it continues to hold we should make better progress for a continuation. If it breaks, we're looking at further downside within the channel near term. Keep an eye on the 4 hours and daily candle close for Thursday
snapshot
Rocketman PRO
9 months ago
Here is my two cents: It is the fundamental, sentimental and predictive data-dependent, along with the technical reasons why I am entering GBPNZD on the long side very soon.
GBPNZD Fundamental and Sentiment: Synapse


Anything could happen. This pair moves 200 to 300 pips in one day, if you are not day-trading this thing, then a stop could be as wide as 400 pips. So, got to be careful with managing this risk in case we are all wrong, even with the good odds.
+1 Reply
fdtbeijing
9 months ago
Friday's 400 pips move is really amazing, it break below 2.15 for a moment, but climb back to 2.19 level at night. just a incredible pair.. i thought it will go down to 2.10....
+1 Reply
Rocketman PRO
9 months ago
I am wrong...
Reply
Rocketman PRO Rocketman
9 months ago
anyone have any ideas, objections, scared out the GBPNZD trade? Still holding it for the medium term or monthly term?
Reply
Synapse Rocketman
9 months ago
snapshot
Support was defended
Reply
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