Nowadays the market is so unpredictable as the pandemic and political events are ongoing. But as a trader, we have to always wait for the better entry as we are always trying to do. We find out GBPNZD is forming bearing momentum and approaching to breakdown its uptrend channel.
If we can break below the trend on a retest I will be going short 😎👍 If you like the Analysis feel free to drop a like and leave comment and follow, we are grateful for all the love out there and we will share the love back 🤍
First, lets look at candlestick pattern. As we all know, this simple 3 candlestick pattern shows us a BEARISH signal. How do we determine this? Just take the entry, lowest opening and highest closing to form a single candlestick. You will see a BEARISH candle from this. Next, we take a look at Ichimoku cloud. Today's candle shoed us a rejection from the Ichi Cloud...
GBPNZD looks like its about to reverse into a downwards trend. It tested the moving averages with a nice potential rejection heading south. A reasonable risk to reward ratio was placed taking into consideration that there is room for a third retest.
Hey traders, here is the analysis for the GBPNZD. NOTE - Please do your own analysis before taking the trade. Let me know if you guys have any questions in the comment section. If you guys like my analysis please hit like. Thanks.
welcome to a new free trading-setup.
Obviously a very risky trade!
I personally see a chance of a retracement after retesting the area of PoC and trendline of the previous up-trend.
I am personally a fan of risk so I will take that one with a lot lotsize.
Moves like that can quickly retrace as scalp- & daytraders tend to save...
GBPNZD 4H Market Overview
Possible Sell opportunity, Short Term Bullish Move to touch 800EMA can Happen, Targetting the next two possible support areas, Manage Your risks Accordingly.
Traders! if you like my ideas and do take the same trade, please write it in the comment so we can manage the trade together.
the content on this analysis is subject...