FullTimeTrader
Short

GBPNZD-triple top with triple divergence-very rare

FX:GBPNZD   British Pound/New Zealand Dollar
1165 21 25
This setup is pure technical, a very rare case of triple top with triple divergence. I used to trade this setups when studying divergences.
Price is extremely exhausted and i think will make a correction next days.
The round level 1.400 is hard to break, so the SL is well protected above it.
Right now price is doing its last pullback! the R/R ratio is good for an entry, if i'm wrong my SL is small, it was a good try.

Best regards.
nigwe
2 years ago
Nice chart, but the colors are misleading. Green should be take profit and red stop loss. Or was it intentional?
Reply
FullTimeTrader nigwe
2 years ago
Arrggg! i did a mistake i will publish a comment correcting it. Thanks.
Reply
gbfx9
2 years ago
thank you, the setup is good...
Reply
FullTimeTrader
2 years ago
Sorry i chose the wrong tool, this is the correct setup for SL and Targets.
snapshot
Reply
LearningForex
2 years ago
isn't the round level 2.400 and not 1.400
Reply
FullTimeTrader LearningForex
2 years ago
Hou are right, but the label on the chart is clear 2.400
Reply
LearningForex FullTimeTrader
2 years ago
got it
Reply
moneymaking
2 years ago
Great insight mate, looking forward to trading this. All the BEST :)
Reply
GcNaif MOD
2 years ago
one more good call mate. thanks for sharing
Reply
99nines
2 years ago
interesting but looks like triple bullish divergence as wel...
Reply
FullTimeTrader
2 years ago
UPDATE: moving SL to BE and waiting for targets to be reached, i do not want any surprise.......
+1 Reply
GcNaif MOD FullTimeTrader
2 years ago
good move mate, yeah this pair is always a surprise pack . Any dip on this pair is the buy opportunity .
+1 Reply
moneymaking GcNaif
2 years ago
Agree, should stay on the buy side until 2.31551 level is broken. Good decision Fulltimetrader. You definitely have to actively manage positions on this pair.
+1 Reply
FullTimeTrader moneymaking
2 years ago
Yes, the series of HH and HL is still intact and basically this is a counter trend trade. If the 2.3155 level is broken we can look for shorts using other setups.
+1 Reply
moneymaking FullTimeTrader
2 years ago
Exactly, my ONLY rule about any type of divergences is that, the market must confirm the divergence by breaking major structure level in the DIRECTION of the divergence. Other than that, divergence is useless according to my rules :)
+1 Reply
GcNaif MOD FullTimeTrader
2 years ago
with current PA it looks like it will hit ur first target soon image]https://www.tradingview.com/x/roLYyafH/
Reply
GcNaif MOD GcNaif
2 years ago
snapshot
Reply
KlejdiCuni
2 years ago
Thank you.
Reply
pabx06 PRO
2 years ago
pull the monthly chart with an oscilator you will see a bearish divergence also starting with 2.4 resistance. short also has a nice carry to it. this pair was so parrabolic if correction start it will have a nice leg down
Reply
pabx06 PRO pabx06
2 years ago
snapshot
Reply
FullTimeTrader pabx06
2 years ago
Hello, you are right, this could be the start of a big leg down, i published a monthly chart also
GBPNZD-correction or trend change starting?
Reply
Ideas Scripts Chart
United States
United Kingdom
India
España
Italia
Brasil
Россия
Türkiye
日本
한국
Home Stock Screener Economic Calendar How It Works Chart Features House Rules Moderators For the WEB Widgets Stock Charting Library Priority Support Feature Request Blog & News FAQ Help & Wiki Twitter
Private Messages Chat Ideas Published Followers Following Priority Support Public Profile Profile Settings Account and Billing Sign Out