GBPNZD has reached significant resistance level.
currently the price consolidates within a rising parallel channel called bear flag pattern.
your plan for next week is to wait and sell bearish breakout of a flag.
T1 - 1.8715
T2 - 1.8520
Stop above the highest point of the flag.
if the market goes above 1.9, setup will be invalid
Price is above the Daily, 60 and 15 KS as well as the cloud. This is a Type 1 trade with a High probability and Great RRR.
2 Potential entries (it is one or the other, not both)
Entry = 1.8880
Stop = 1.8860
Risk = 20 pips
Profit target = 1.9058 ( The projected daily high )
Reward = +178 Pips
RRR = 8.9 - 1
2nd Entry = 1.8950
Stop = 1.8925
Risk = 25 pips
Welcome to DACapitalTrading, We provide any kind of Technical and Fundamental Analysis
for Forex and Crypto-Currency Markets every day!
Bearish price action and pressure.
Break below previous lows and support zone of short/midterm long holders.
Market structure at a strong support zone, expecting some bullish price action now!
WELCOME TO DACAPITAL TRADING, WE PROVIDE ANY KIND OF TECHNICAL AND FUNDAMENTAL ANALYSIS
FOR FOREX AND CRYPTO-CURRENCY MARKETS EVERY DAY!
Strong bullish open and price action this week.
Emotions too high and people try to jump on the train, good short opportunities.
Overall bearish market with a small...