Entry details are shown on the chart.
Working the 45M time frame on this strategy.
We're only looking for TP3.
Trade history can be seen below this trade idea too for full transparency.
I try and share as many ideas as I can as and when I have time. My trades are automated so I am not sat in front of a screen...
✅ GBP_NZD fell sharply after breaking out
Of the massive rising channel just as I predicted
After reaching our target, the pair broke out of the falling channel
And I think that after a pullback and a retest of the support
We will see a bullish correction
With the possible retest of the broken level above
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On the 2H chart we can see the beginning of the trend reversal as market broke above the Previous Lower high and created a Higher high. On the daily chart we can see a correction of the upward movement.
It's recommended to buy the dips.
Here is our technical outlook on GBPNZD.
The level where the price is trading right now is major
and the price will most likely bounce from that.
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And so, the initiative of buyers is observed for the euro currency pair. In addition, at the 1.66705 there's an opportunity that the level will be broken upwards. Not at first attempt, perhaps.
Remember, there is no place for luck in trading - only strategy!
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Last week GBPNZD reached a weekly support cluster and we saw the loss of price momentum. Currently, the price failed to make a lower low and it's now consolidating on the level.
Once you zoom in the 1H timeframe you'll notice bullish accumulation forming an ascending triangle. Once the price breaks to the upside of the triangle it will be a very nice opportunity...
Here is a great short rally that we caught with my Top-Down trading strategy this week.
The pair reached a major daily structure and formed a head and shoulders pattern on that on hourly.
Being stuck on the neckline for some...
GBP-NZD broke out of the falling channel
After retesting a strong horizontal support
Thus,I am locally bullish biased
And I think that we might see a move up
To retest the horizontal resistance above
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". There is still a possibility of temporary retracement to the suggested resistance line (1.9676).
if so, traders can set orders based on Price Action and expect to reach short-term targets."
. GBPNZD is in a range bound, and the beginning of a downtrend is expected.
. The price is below the 21-Day WEMA, which acts as a...