Take a look at the daily chart and you can see the head and shoulders pattern developing. At the moment the right shoulder is just being formed, but the swing high is complete at the right shoulder suggesting more downside. You can see that the recent high coincides with the high established where the left shoulder is. This is an aggressive entry. Most will ...
One thing we are proud of ourselves is that we only forecast and do not predict where the market is going. This enables us to be objective and remove the distraction and noise from gossips, Trump news and also other fundamentals. We are not saying that they don't work. Some traders and investors will find these useful and relevant. However, this is just not ...
GBPNZD price action contained within a multi-days bullish channel with new tops and lows, However the trend is strong but medium term momentum is slowing which is indicating a pullback. I am looking to short this market around 1.9675 area with a wider stop at 1.9855, expecting for a target around 1.9259 area.
We have and AB=CD Pattern. Sell if price respect the 100% ext (127.2% ext of prev swing.)
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Ok the Nzd are very weak as trhe Leader Peters backed Labour to form a government so the market remain nervous because they scare they will do same as Signapore monetary policy like a "net effective exchange rate target" so is very not good for NZD but all i said is for now is just speculation about ,and when it will be more clear i think Nzd will get back some ...
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Hi traders,
We had a very long range on the GBPNZD daily chart and we recently broke it. The arrow that is pointing on the last candle is the re-test candle, testing the previously broken area successfully.
I will open my trade on Monday and see where price will bring me :) On my first target, I will take out 50% of my profits EXCEPT price is showing strength. ...
On several British Pound Forex pair, an ascending trend line on the daily time frame is on play. With them approaching the bottom of the bottom, are they to bounce or are they to break?
In GBPNZD, we can see the it is consolidating at the bottom of the ascending trend line (possibly poised for a retest of the broken weekly descending trend line) which made it ...
There are several reasons why I want to buy this pair. From the Weekly Chart to the 30m Chart, all the way, the pair is bullish. Though my trade setup contains a small opportunity for Pips, the pair may make more upside but that is not confirmed yet from my point of view.
For all we've known, formation of inside bars may mean two (2) scenarios: a reversal of the trend or a continuation of it. Since I'm already long Pound-Dollar, I will be looking to enter a long.
Be cautious of the incoming Great Britain election.
Now that the down move has reached the up trend line it appears as if it is time to look for a run back to the upside. The trend line on the daily chart shows support at the moment and if it holds will provide a good reward to risk ratio.
Reasons:
Bearish Head & Shoulders @ Confluence of Resistance in higher time-frames.
Stoch RSI is now "Over Sold", so a pull-back is needed for further bearish continuation.
Past support should become future resistance and here we get a 61.8% Fibonacci retracement level as confluence.
Trade Safe. :)
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