We experienced over 300pips run in our direction since my last publication on this pair (see link below for reference purposes).
Now, it is obvious that a trading range has been hemming broadly within the N$1.93500/1.97000 since the emphatic breakdown of the Demand level late in the month of August 2021. At this juncture in the market, I shall be looking forward...
Looking at the Daily Forex charts and using the High Probability & Divergence methods from my books, there were 3x new trade setups identified today. Just be careful of correlation though as the NZD is involved in all 3x trades. Enjoy the weekend all. Cheers.
GBPNZD is currently very volatile such that there was no clear price action that we could lean on to enter the market. However, we currently see the price reacting as soon as it returned to a daily resistance zone which was previously a support zone.
With this price reaction on the zone, it does not mean that we jump to sell the market right away....
GBPNZD - Potential Deep Crab, I'm waiting for a trendline break to potentially scalp down to the D point. There's lot's of liquidity lying in-between current price and the Crabs D point, the D point also lands on the previous weekly low which is also the point of a strong OB, lots of confluence in this zone!
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Following an aggressive move to the downside, GBPNZD has been moving up correctively for the last month or so. It is now approaching a critical area where we can see some powerful confluences stacked up. Keep an eye out for this level and set your alerts!
The blue and red lines mean: I think prices can return in these areas.
Green lines mean: I think the price can reach these areas. They are therefore known as transaction targets.
If you want to use this deal, please risk only one percent of your account balance.
As we can see, GBPNZD broke the lower trendline of a bullish channel on the daily time frame, There was a retest on the previous support level , we expecting a bearish continuation.
Those with smaller accounts might have to wait for the market to break the lower trendline before placing any trades.
Please use proper risk management depending on your account...
Price is reacting above our pivot level at 1.96105, in-line with 38.2% Fibonacci retracement level, 100% Fibonacci extension and 200MA. Price could potentially drop to support at 1.92950, in-line with 100% Fibonacci retracement level, 61.8% Fibonacci extension level and swing low support. Stochastic is also indicating possible bullish momentum before facing...
Hello Traders, here is the full analysis for this pair,
let me know in the comment section below 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 watch list and see if
the rules of your strategy are satisfied.
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