professionals increasing gbp long positions since last few weeks, professionals increased 7% long positions by last four weeks, while reduced 3% shorts positions in nzd. split your position by dividing half risk each with following levels, 1.9180 and 1.9105 for target 1.9450.
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Hello team, price has been moving in perfect waves. we have an indecision candle showing up that bulls have potentially run out of momentum. looking for sell all the way down to demand.
Hey traders, here is the analysis for the GBPNZD. NOTE - Please do your own analysis before taking the trade. Let me know if you guys have any questions in the comment section. If you guys like my analysis please hit like. Thanks.
Despite the UK’s coronavirus pandemic situation... I still hold on to an overall Bullish perspective due to the reversal structure (the culmination of 127.2 ext Bearish run) cited on my Daily chart; I am of the opinion that price is at a juncture where the opportunity for a quick counter-trend trade is possible before the rally begins!
Tendency: Short term...
Preconditions:
- accumulation
- key level
- false break out
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Disclaimer:
the content on this analysis is subject to change at any time without notice and is provided for the sole purpose of assisting traders to make independent investment decisions. this is no signal. it's my opinion. trade your own risk. and Must Follow Money...
GBPNZD is quite interesting as there is no strong structure levels before 1.87. There was a support ledge which has failed to hold and we can now see price failing to the downside.
BUYING GBP/NZD
Entry: 1.9043
Target 1: 1.9183 (140+ Pips)
Target 2: 1.9393 (350+ pips)
Target 3: 1.9638 (595+ pips)
SL: 1.8822 (221- pips)
R:R 2.7
its a 221- pips SL. Use sensible lot size. do not risk more than 1% per trade.
As we can see near resistence level MARKET is making a divergence for bearish movement.
If market confirm its Divergence then we fill find a short term bearish movement in this PAIR.
after this we will fine a reversal move for bullish trend near its support and TL
GBPNZD has already tested the strong level of support form the weekly perspective so we anticipate price to shoot up, now going down on the h4 time frame we can see a break of structure for potential upside movement ( BUYING AFTER RETEST) But before that GBPNZD has also give us a sell setup because it is on the Trendline RESISTANCE Let's eat the pips
