The 4 hour time frame for GBPNZD shows a nice bounce back of the support level that created a new ascending trading range. possible targets are the next 2 resistance levels that could be hit within the next 3 days since its the 4 hour time frame. Now when you go to the daily and weekly time frame you will even see a possible target of at least 1.88 long term. next...
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...
Did you follow our trade analysis 10 days back?
The trade is still valid and we are still in the track of going 1.8 regions.
We are seeing NZD as the weakest among all while GBP still has its strength.
That makes us BULLISH on GBP/NZD.
Trade Safe,
s0nic
Upside still remains..
1.76 level still holds as a good support.
Earlier on, we had a long trade and tp at a resistance zone.
Now that price action is pretty bullish, I am seeing more upside to it.
Weekly graph of GBP/NZD shows a bullish period where most of recent candles were bullish. This period lasts from November last year. Currently structure of lows and highs indicates an upward trend. However, in last few months, there have been declines that slow down along the trend line. On W1 was set another pattern of bullish engulfing bar which quite often...
After the strong bullish momentum of June 27 that preceded the breakdown of the bearish trend line, the price shows signs of wanting to continue with the bullish movement since it fails to fall back below the 1,554 level, being optimistic the price could possibly reach up to The 1.588, although I would recommend taking partial profits at 1,568.
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.
Breakout is confirmed, the restest is almost done. means that price might pull back at the support zone arround 1.73810
PS: control your lot size because the chart might go in the red space for a while before getting back in the green zone
ENTRY: 1.73810// SL: 1.68649// TP1: 1.99948// TP2: 2.20288
After having 500+ Pips in Gbpnzd pair. Now on daily Time Frame Pairs seems in oversold condition and also on daily chart we can see now its hold above its strong Support.
as its holding above 1.74 we can see a jump toward 1.80-1.80 so advice to buy pair in range of 1.762-1.75 sl below 1.7380 TP1 1.80 TP2 1.82
Idea: Testing strategy against the retrace using OBOS and stacking related time frames. I am expecting the retrace to have reached its lowest price limit and price to return to the daily up trend.
Pros: Perfecting the entry will maximize the profits from the previous leg down. Accurately predicting retracement lows could also be useful for early entry until...
