Follow up to GBPNZD - Sell-off! - Event listeners for Strength!
See related idea below for brief history this chart first posted here
The bullish move that began around September 26 2022 validates a larger longer term Bull structure that has been in place since the beginning of October 2016. At the moment, accumulation activities are ongoing, which can create a near term bearish environment.
However, a move like that of September 26 2022 should be tested, especially if the intraday resistance at 1.9828 remains valid. If the bullish trend is to continue for years, a good showing of strength would have to come in sooner rather than later, in my opinion; failing that, the test area could extend to 1.8650 & 1.8000. (critical level).
Basically, listening for events to trigger shorts as long as the resistance at 1.9828 area holds.
Heed your DD! Nothing is set in stone; as always, the market rules!
Happy trading!
The bullish move that began around September 26 2022 validates a larger longer term Bull structure that has been in place since the beginning of October 2016. At the moment, accumulation activities are ongoing, which can create a near term bearish environment.
However, a move like that of September 26 2022 should be tested, especially if the intraday resistance at 1.9828 remains valid. If the bullish trend is to continue for years, a good showing of strength would have to come in sooner rather than later, in my opinion; failing that, the test area could extend to 1.8650 & 1.8000. (critical level).
Basically, listening for events to trigger shorts as long as the resistance at 1.9828 area holds.
Heed your DD! Nothing is set in stone; as always, the market rules!
Happy trading!
Comment:
The Test Phase ...
