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...
Hey guys,
here on GBPNZD we're now testing a very important structure area; as you can see on the left hand side of your screen price has already found resistance in that area and it could now turn into support and push price higher. Given the case, i want to be involved on the long side of this pair, hoping for a continuation on the upside. Now, you can use...
Hey guys,
here on GBPNZD we're now testing a very important structure area; as you can see on the left hand side of your screen price has already found resistance in that area and it could now turn into support and push price higher. Given the case, i want to be involved on the long side of this pair, hoping for a continuation on the upside. Now, you can use...
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.
Possible retracement could be coming.
One should not take a long trade as the pa is still not on the bull side.
However, this pair could be one on your watchlist this week.
Lets wait for more PA to tell us if this support would hold well or not.
Structure wise - In a very good LRE support zone.
Gbpnzd Formed Strong Support on Weekly Chart. If hold above 1.84 level we can see a jump of 600-1000 pips.
Its for Claim investor who can use smallest lot size. ideal buying level 1.88-1.86 sl level below 1.8450
TP1 1.94 TP 1.99
Risk Management Alert : Below 1000usd 0.02 around 1.88 and pending 0.01 around 1.86 level
GbpNzd is nearing the lower range of its upwards channel. Based on the indicators there's still enough buying pressure and trend strength left for GbpNzd to go up. And a break of the lower range isn't very likely.
Take profit: 1.89>1.92
Stop loss: 1.87.
If the lower range does break then switch to sell for 400-500 pips target
THE PRICE IS ARROUND A BIG DAILY RESISTANCE 1.83000 AND THE HIGHT LINE OF UPTREND CHANNEL
SO WE CAN ENTER SELL WITH THE LOW LINE OF CHANNEL AS A TP AND WAITING BREAKOUT OF CHANNEL ,LETS SEE WHAT'S HAPPNING NEXT WEEK AFTER HITING THE TP 1 AND TP2 WITH YELWO LINE
On the GBP.NZD 4hr chart we have a potential long opportunity at the D leg completion of bullish Cypher setup.
The price reversal zone on this pair is between 1.7739 & 1.7646
The PRZ zone is only a guideline of where we will be paying attention for trade setups and opportunity's.
Potential targets for the Cypher setup placed at the .382% and .618% retracement...
From a technical perspective, the GBPNZD has been in an uptrend since february, this trend also being confined (not perfectly) in an upward channel.
Today, price action tried heading for the upward boundaries of the channel to retest it but failed against higher time-frame structure where it would have been expected that sellers would step in.
We mention that...
Hi guys,
here on GBPNZD as you can see we have a nice double bottom (with RSI divergence) right at the completion point of the Cypher pattern. Besides, this level is also a level of structure that lines up pretty well with the 618 retracement of the bigger leg.
The last bullish candle is the final sign of a possible reversal.
We'll see. Stops below the low,...
