darbova

GBPNZD Swing Long (Higher Timeframe Analysis)

Long
OANDA:GBPNZD   British Pound / New Zealand Dollar
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Colour key: Blue = monthly, Pink = weekly, Grey = daily/4H/1H
If you look at GN on monthly/weekly, you can clearly see it's in an uptrend. I've drawn out multiple supply and demand zones, as well as key levels, from the higher timeframes (see the colour key). I believe we may see a drop to the second-to-bottom blue zone before price reacts to it and flies upwards. My two targets will be the two pink zones above the entry point. I believe price should make it's way up to the first pink zone before a minor correction and ultimately heading further upwards.
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Trade active: Price has gone down to the bottom blue zone, but my bullish bias is still valid until price holds below this zone.