FX:GBPNZD   British Pound/New Zealand Dollar
153 7 8
Very steep climbing channel = steep fall.

Price is ranging now for about a month and even the bullish divergence on 4h TF can't take it to a higher high if you ask me. What I see is a rounded top at the yearly high. Also a potential SHS-pattern completion is highly possible to get the bullish ride finished.

As long as we trade near the border at the channel look for shorts.

Related Ideas

timwest PRO
a year ago
Would you consider reposting when a trade entry is signaled? This looks like a great setup, but I'd love to see when it actually triggers an entry. It sure looks nice and extended and creating divergences. Thanks!
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Yahia.Awes timwest
a year ago
You will see me updating this idea.
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Yahia.Awes Yahia.Awes
a year ago
4H timeframe showing bearish signals, I will short the spike.
snapshot
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Yahia.Awes
a year ago
My short triggered at 2.31900 no SL placed yet, will wait untill fundamentals get over then I might see what to do.
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Yahia.Awes
a year ago
When the right shoulder becomes a head!
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Yahia.Awes
a year ago
This is why I love channels so much! Supported by channel and now going up to test wedge top.
snapshot
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Yahia.Awes Yahia.Awes
a year ago
2.45 area is good to short from because that is a horizontal resistance!
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