Good set presented here,after a long weekly range where price were respectin for multipel days the 1.9435 resistence inside the wedge pattern so right now seems like we finally we have a break of this resistence showing a strong buyers preassure but before placing a long position i woudl wait for a multiple 4h clsoe abvoe the mentioned level or to fully confirm it...
We are very much long on the GBP NZD
looking for a BREAKOUT of 19560 for confirmation of higher highs
Strong weekly trendline gives a good basis for SL
our trade is currently +300 pips and staying long
Everybody this week called short short the GBP
Regardless which way you want to trade, look for minimum five 4hr. candles in consolidation zones (yellow border boxes), or five daily candles for solid yellow boxes. If you're a pattern trader or pinbar trader, this might be useful here.
Wait for a significant breakout of the 4hr. consolidation or daily consolidation from red border boxes to...
GBPNZD is approaching our first resistance at 1.9272 (horizontal pullback resistance, 61.8% Fibonacci extension, 61.8% Fibonacci retracement) where a strong drop might occur below this level to our major support at 1.9087 (horizontal pullback support, 61.8% Fibonacci retracement).
Stochastic (34,5,3) is also approaching resistance where we might see a...
If my count is correct (12345), I believe we have a pretty clean long position here..
(Can a '12345 corrective' come immediately after an ABC? I'm only beginning to learn Elliot rules.)
Channel looks good, take a long with a stop shortly below the 2 and 4 position, below the channel. I feel like if that doesn't hold there isn't much evidence for a long.
- Brexit delay released some uncertainty for a deal in the UK and to organize the legal structure of companies
- FOMC meetings in the US showed they are not going to raise rates causing investors to choose alternative securities to get better returns on investment
- Daily/ 4HR support in sight, signs of buying already at hand.
- STRONG fundamental scores in my...
On the daily chart I am seeing that the price will test the 61.8 Fib line on the daily chart cycle this would put price in the area of 1.95383 ( the markets will be extra unpredictable as the Brexit situation is ongoing and awaiting the EU vote to accept the delayed Brexit withdraw of of the 29th of this month. ) As of right now I see there being room for growth...
The pin bar on the last daily and the expectation of a retest of the resistance level are enough confluence to justify my belief that it will go to the 1.95991 level next week and possibly try to test the 1.97550