FX:GBPNZD British Pound/New Zealand Dollar
The level is currently at the same level than one year ago, and definitely it's struggling to continue going lower. From the technical point of view there are there is a clear diversion in the and there is a pattern form in the last weeks. Now I am wondering if the price could continue going much lower? or is finally a bottom and the start of an important up move? Well... looks interesting and we will find out the answer in the upcoming weeks.... or how knows, maybe even this week ;-)
Trade active: The GBP didn't even reached the down trend line and seems that the support is not strong enough to keep the price, therefore is very probable that the price will continue its down move...
Hello, my strategy is wait the daily breaks, then I wait for the retest in H4 (rarely H1 as the market could extremely change from one hour to other) and as you said the best way to get your entry point is by having a candle stick that proves it (pin bar, engulfing or any other change candlestick pattern) in the residence/support areas, also the daily pivot points gives you interesting entry areas (for that I use the following indicator https://www.mql5.com/en/market/product/6791)