Butterfly formation on 4hr chart RSI moving towards 60 If you guys have anything for correction please tell me I am new at this.
Potential long position if we see price break and retest 2.15 resistance and descending trend-line. Falling wedge. Weekly ABCD Looking for bullish price action after the retest. Price has been ranging for the last month or so. Awaiting further bullish confluences before any long position.
Buy the break, but keep an eye of short term short break!!
FX:GBPNZD BAT: Point B: 38.2% to 50% XA Point C: 38.2% to 88.6% AB Point D: 88.6% XA Targets: TP1 38.2% AD TP2 61.8% AD Safe Trades; open.spotify.com
GBP has broken through an upper level of support and has left the H1 200 sma behind. I'm LONG this market from 2.1095 with a STOP at 2.1020. Target is open but initially the H4 200 sma coming at 2.1573 area looks attainable in due course. NZD/USD is still moving south after a double top at .6614 and this suggests we should see GBP/NZD gain ground. All GBP...
GBPNZD POSSIBLE BULLISH GARTLEY WEAKLY
A break and retest of 2.1080 could send GBP/NZD much higher and not just much higher - I mean MUCH higher. We need to clear 2.1080 first (currently 2.1066) but we seem to be headed there.
Potential Reversal Zone at 2.1236 with potential targets at 2.1640 and 2.1885. For the brave souls that choose to take this trade, stops should be below the 2.1075 level.
FX:GBPNZD BUTTERFLY Point B: 78.6% XA Point C: 38.2% AB 88.6% AB Point D 161% ext BC 261% ext BC Targets: TP1 61.8% CD TP2 127% CD Safe Trades;
Buy the breakout, SL Below 2.16000 Target 2.28555/2.34555
FX:GBPNZD BUTTERFLY Point B: 78.6% XA Point C: 38.2% AB 88.6% AB Point D 161% ext BC 261% ext BC Targets: TP1 61.8% CD TP2 127% CD Safe trades; open.spotify.com
bottom trend of the wedge is holding as support, possible to play a short term (relatively) long for a bounce to the upper bound but best RR is waiting for breakout at the close.
Lack of data on this monday so price is unlikely to move past support, stop out below price reversal zone.
As you can clearly see on the chart price has put in a double bottom at the 2.24 support level. This level also aligned with the daily and weekly bullish fib level at 50%. Many higher time frame confluences for the bullish bias. Price has broken and retested the daily/4hour counter trendilne to the upside. Waiting for price to break 2.30 with bullish momentum and...
GBP/NZD looks like it is forming a complex wave iv. This pair has been on a strong upward trend since April. Please also note that the RBNZ monetary policy meeting takes place on Wednesday 22th July and they are expected to cut interest rates. So far price looks like it is dropping as a W X Y double Zig Zag correction. I have labelled waves W X and a of y and b...