DennySantoso
Long

GBPNZD for Trend Continuation

FX:GBPNZD   British Pound/New Zealand Dollar
108 8 5
4H GBPNZD             is on retracement and hit the bullish trendline . We got triple bottom on 1H with oversold RSI (below 20) and a divergence. Bullish Trend Continuation is expected. Entry at 1.9766 (Fibo 50% retracement ). Target for the next resistance around 1.9950.
If this 4H candle closes below 1.9750 then game on... it will fall drastically..
Reply
DennySantoso chetan.visa
If it closes below the lowest wick, then yes, it will fall, but apparently as today, it's still rally up. It's still on a minor resistance now taking a breath, if it's close higher, then next target suppose the be around 1.98490
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chetan.visa DennySantoso
You were right..How much upside you see in this pair? I stucked in short.
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DennySantoso chetan.visa
not sure, 9930 is resistance from May and 9965 is previous resistance. But if you ask me for far will it rally, i don't know. From Fibo extension, and looking at the RSI, it could be around 2.0130.
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chetan.visa DennySantoso
OMG..
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DennySantoso chetan.visa
it moves beyond the resistance
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chetan.visa DennySantoso
Denny so what you think now? it has come down to 1.9920. So what next?
Reply
For now it looks like it will break the trend and will go down..
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