Noticed possible Cup & Handle formation on Daily chart of GBP/NZD. After finding resistance @1.9800 pair is moving down in channel that can be clearly seen on 4 hour chart. When pair falls bellow support level 1.9600, which is also 38.2% Fibonacci retracement of previous up move, I will be looking to buy pair on 50% of that same Fibonacci around 1.9500 area. Stop...
Confluences: -Price just broke out of the 4H consolidation area -Personally now I'll wait for price to come back to retest the consolidation area -For an aggressive entry: I'll put a buy limit at the top of the consolidation area -For a safer entry: I'll put a buy stop when I see signs of rejection and continuation to the upside Additionally the weekly closed...
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Prices are facing bullish pressure from pivot level which is in line with 50% Fibonacci retracement and 100% Fibonacci extension . Prices might push up towards 1st support which is in line with -27.2% Fibonacci retracement and 127.2% Fibonacci extension . If prices fall through pivot level, prices might take support on 1st support which is in line with 38.2%...
Prices are facing bullish pressure from pivot level which is in line with 50% Fibonacci retracement and 100% Fibonacci extension. Prices might push up towards 1st support which is in line with -27.2% Fibonacci retracement and 127.2% Fibonacci extension. If prices fall through pivot level, prices might take support on 1st support which is in line with 38.2%...
Hello Traders, here is the full analysis for this pair, let me know if you have any questions, the entry will be taken only if all rules of the strategies will be satisfied. I suggest you keep this pair on your watchlist and see if the rules of your strategy are satisfied
Waiting for the market to reach at support before buying
BIGGER ACCOUNTS & SWING Looking to place a Buy Stop @ 1.94634 Stop Loss @ 1.92989 (163 pips) Take Profit @ 1.97425 (329 pips)
GBPNZD Buy looking at the long on this one Using Smart Money Strategy
BUYING GBP/NZD Entry: 1.9397 Target 1: 1.9458 (61+ pips) Target 2: 1.9566 (169+ pips) SL: 1.9313 (84- pips) R:R 2 Please use a sensible lot size. Do not risk more than 1% per trade
Here is an Update on my Long position of GBPNZD. I have attached previous analysis below. Price has reached my particular target area and fell roughly 20 pips short of my TP area. Feb 4 December 12
Please be cautious when trading the head and shoulders breakout on this pair as it could result in a reversal. If the breakout is confirmed then look to continue buying but if the price shows signs of closing back below the arrow marked then get out because this could drop aggressively.
Hey traders, here is the analysis for the GBPNZD. Let me know if you guys have any questions in the comment section. If you guys like my analysis please hit like. Thanks. NOTE - Please do your own analysis before taking the trade.