The counter has broken down a head and shoulder pattern. The pattern is right inclined which portrays extreme negativity in the counter. Hence, we expect the pair to be bearish in the short-term.
Right now GBPNZD is ranging, came down for Hl move and right now is about to go up for LH move, i'm just risking 1% of my account on it at a moment.
This is GBPNZD 4H timeframe analysis, i'm expecting the market to go up
A POSSIBLE TREND CONTI. OPPORTUNITY ON GBPNZD OVERALL MARKET IS IN DOWN TREND AND AFTER A LITTLE PULLBACK AND FORMING A HIGHER ON 1HR MARKET BROKE THE RISING WEDGE STRUCTURE AND NOW HAD BREAK AN SNR LEVEL. NOW WE CAN WAIT FOR THE MARKET TO TEST THE SNR LEVEL AND WAIT FOR A GOOD REJECTION FROM THIS LEVEL OR WAIT FOR 1HR CANDLE TO CLOSE BELOW THE LEVEL IN ORDER TOE...
DISCLAIMER: My analysis is just a trading idea! As a trader you should consider your own risk:reward ratio and do proper lot sizing according to your margin and leverage level. Good Luck!
The counter has formed a topping out formation in the near-term. It made a double top and has broken a key support level of 1.99508. Further, the round number of 2.00 can act as a psychological barrier in the near-term. Though a pullback to the top cannot be ruled out, we still expect the pair to be bearish in the near-term.
BUY STOP - PENDING ORDER BUYING GBP/NZD Entry: 1.9692 Target 1: 1.9800 (108+ pips) Target 2: 1.9988 (296+ pips) SL: 1.9577(115- pips) Please use sensible lot size. if the SL is higher than your 1% risk don't take this trade.
Retracement looks like its over, so waiting for price to breakout before going long
Keeping it simple and letting price dictate what it wants to do Waiting for price to break resistance before first buy then doing the same with the second There is divergence on multiple timeframes and price has broken a downward trend line (not drawn)
** JUST AN IDEA. NOT A SIGNAL ** Sorry we haven't posted in two weeks due to covid. We are back with GBPNZD, as we can see a weekly downtrend is continuing as the days go by. Momentum has been lost this week over the last few days with signs of a reversal. If the trade chooses to break 1.92770 barrier I expect to see a nice uptrend. Else if the trade breaks...
You can see the Chart of GBPNZD on 4hrs Time frame . It Looks Like Market is Forming Invers Head and shoulder pattern. Note: This is only for Educational Purpose this is not an Investment advice. Please support the setup with your likes, comments and by following. Thanks Adil Khan
BUYING GBP/NZD Entry: 1.9224 Target: 1.9421 (197+ pips) SL: 1.9101(123- pips) It's a 123- pips SL. Please use sensible lot size. if the SL is higher than your 1% risk don't take this trade.
On this chart we can see a pull back that has occurred during this uptrend, a new level of support was found and price has come back to retest We are already in this trade and I will be expecting price to bounce off this level and continue moving up
Price has fast approached our marked level of support. This set up is showing the potential to retrace at least 50% of the bearish move before advancing lower. Entry, stop loss and take profit have been marked. Do not risk more than 2% on this date.