IvanLabrie
Long

GBPNZD: Potential range trade

FX:GBPNZD   British Pound/New Zealand Dollar
2 years ago
We have a confluence of signals indicating a long is possible from this area.
We got:
  • Key hidden levels options expirations support
  • Downtrend signal that probably won't be reached in time. (if not reached = bullish!)
  • RgMov in an uptrend since the inverted head and shoulders in jangseohee's chart formed. Also showing fibonacci levels of support at play. (It can be used to detect trends and sentiment very well, great tool)
  • CCI showing a hidden divergence and quarterly ROC showing an uptrend.
  • Price action suggests this oversold spike down reached its end, specially if we break above the last daily bar's high.
Feel free to comment, and take this trade as well...Keep in mind price can extend down to meet my forecasted time at mode downtrend target by April 17th. I don't think it will, but it can.
Targets would be between 1.97 and 1.99 in a strong surge, but it can extend higher. Stops are to be placed based on your own criteria, always follow your methodology, this is nothing more than a trade journal.
Good luck!
a year ago
Trade closed: target reached
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One more thing: potential double bottom for price action enthusiasts.
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piptank IvanLabrie
2 years ago
same opinion here
https://www.tradingview.com/e/SQYyvYMz/
+1 Reply