waiting for confirmation for possible trend reversal.
the uptrend is on the upper trendline third touch which may signify a possible trend reversal and the end of the perceived countertrend.
if i am right the daily trendline might or is there to get it more buyers before a sell off.
Looking for 340+ pips 💲💲
This is the chart of gbpnzd
Reasons for take this trade
1 - it's gave channel pattern breakout
2 - it's completed ABC pattern
3 - fib retracement(very important)
4 - if we see long term chart then we easily can see first there was impulse then retest and now continuing impulse
5 - history repeating
6- index showing weakness
...
And here we are on a Friday after a fairly quiet week for me. The reason being that the majority of my watch-list are already in open trades. So all good there. But today's GBP/NZD is higher risk trade against the trend and also my 2nd attempt at this same setup as per my notes on the chart. Enjoy the weekend all. Cheers.
Hello all,
GBPNZD has been falling for a quite long time in a bull flag pattern on 1D time frame.
Now it has reached the support line for the 3rd time and also it is close to the structural
support zone. Plus the double bottom pattern is forming on 4H time frame. Thus it is
possible to enter the bullish reversal at the lowest possible point. However, it is quite...
GBPNZD is currently at a critical support and has touched the bottom of a falling wedge type formation on a Higher Timeframe. We can potentially see good upside this week and our targets are 1.94000 (initially) and 1.96500. Good Luck!
GBPNZD - Yesterday Price created a new low on the Daily TF, then broke structure to the upside on the LTF creating liquidity, I'm expecting a retest of the lows (Potentially following the pattern) before trading the CD leg, I have 3 possible entries long here.
Whats your thoughts?
FX:GBPNZD
The blue and red lines mean: I think prices can return in these areas.
Green lines mean: I think the price can reach these areas. They are therefore known as transaction targets.
If you want to use this deal, please risk only one percent of your account balance.
GBPNZD, Potential Swing long, price is sitting on quaterpoint which also lands on the D point of a daily shark & a daily OB.
There's not much reaction at the current level which indicates to be the bears are still in control, I feel once the OB is tapped into below price will reverse and head back towards the previous quaterpoint (Daily high) If price breaks and...
GBPNZD - Potential Daily Crab, D leg lands in the daily demand zone, clears an imbalance and taps a refined OB (This is my ideal entry for a buy, highest probably, lowest DD trade)
However price may just clear the daily imbalance (1.93043 level) and then reverse!
Will be watching PA as it reaches this level. First level ill take a swing with LTF confirmation...
GBP - Weak Bullish
1️⃣ BOE Chief Economist Huw Pill says that the current strength of inflation appears to be proving to be more durable than initially expected and the BoE plans to release asset purchase stocks in the best possible way.
NZD - Weak Bearish
1️⃣ The expectation of an interest rate hike is already expected. Not surprising the...
GBPNZD - Potential Crab, Price is trending up on the HTF and I'm hoping for price to return to the 1.95993 level to fill a previous imbalance and then reverse from an OB to continue the HTF trend bias.
The previous reaction close to this level is very strong and we have a lot of confluence, a bounce is probable.
Whats your thoughts?
Long position taken because the price started a bullish trend from a daily demand zone and also it broke last week high and a 4H supply zone, so I took a long position.
R/R = 1:1.86
GBPNZD, according to Marketmilk on Babypips, indicated an uptrend. The bull market, based on the Chain pattern of HL and HH, can be expected to hit two take profit peaks. This is a good swing trade idea, if GN continues sustaining the bull run. If you would like to enter this trade, please use proper risk management.
We consider buying this GBPNZD pair because of a strong support below. We know what we are doing and we do what the market is doing. This is more than an institutional analysis. Invest wisely. Thank you for following me on tradingview.
