FullTimeTrader
Short

GBPNZD-H1-impulse and correction

FX:GBPNZD   British Pound/New Zealand Dollar
509 2 10
This idea is related to previous one (see related idea below).
My bias is that correction to the upside is already finished near the EMA 55 (D1 chart).
Here on H1 chart we have a clear impulse and a correction at the 0.61 fib retracement. Price is finding strong resistance there.
The red line is the D1 ema 55 level, wich is acting as strong resistance also.
I expect price finally will continue the downtrend from here.
Best regards.

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Related Ideas

Hello FT, are you still expecting another X-Z on the correction?
Reply
FullTimeTrader Heelfan23
a year ago
Hello, according to this analysis i dont expect an WxYxZ structure because we are already at the ema 55 level and 0.61 fib retracement.
Reply
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