The rally that broken the bearish trendline on GBPNZD last October is weakening and pointing to retest the broken resistance trendline. Sell order can be entered at 1.9500 and set a TP at 1.9000. SL can be placed at 1.9700. Until then, we will revalidate if this trade idea will hold through.
Hello traders, we currently have a short setup for GBPNZD on the D1 timeframe. We are currently expecting price to retest 1.99500 levels, in which an optimum trade entry short can be found. Price is respecting many confluence areas, allowing a good probability setup to go short. If you are in this trade, or if you are not in this trade let's discuss why and why...
I've been watching for weeks, it's now time to get in!
I will be looking for a further pullback or further corrective structure formation to take a short entry
In the GBPNZD weekly chart above, GBPNZD sell-off impulsively from its August 2015 high. The decline is in five-wave and labeled as 1-2-3-4-5 in wave (A). Sub-wave of wave 1 of (A) is also visible. Since GBPNZD bottomed in November 2017, it has been in a corrective wave, which is expected according to Elliot Wave Principle. A three-wave correction follows every...
GBPNZD Trading Plan >H1. Wait for breakout or rejection. Trading CFDs on margin carries high risk. Please ensure you fully understand the risks.
GBPNZD faces bearish pressure for an intraday correction after last weeks huge upside move. Trading CFDs on margin carries high risk. Please ensure you fully understand the risks.
Price reversed from descending trendline and has potential to move lower towards the ascending trendline.
GBPNZD Intraday Technical Setup. > Wait for breakouts. Trading CFDs on margin carries high risk. Please ensure you fully understand the risks.
We Have GBPNZD Sitting At The Backside Of The Broken Up Trend Line Right Near The Down Trend Line, The Market Is Already Making Lower Lows And Lower Highs, The Market Already Broke The Counter Trendline In The Sell Zone And Now Its At The Backside of It. If You Take A Look At The Daily You Will Also Find That The Daily Had Recently Formed A Double Top Which Makes...
The market structure of GBPNZD shows how the price breakout of major ascending trendline and support zone. Price is currently retesting the broken levels that lined up with a descending trendline. Price has the potential to decline from or near the current market price. Elliot wave also shows a series of 1-2, (i)-(ii) sequence which could mean a rapid sell-off...
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GBPNZD showing signs of weakness in M15 at its intraday resistance. Potential downside move to next support. Trading CFDs on margin carries high risk. Please ensure you fully understand the risks.
The price will retest the Resistance and then go down further
=> GBPNZD - Sell <= => Entry: 2.0150 => 1st SL: 2.0250 => 2nd SL: 2.0350 => 1st TP: 2.0090 => 2nd TP: 2.0070 => 3rd TP: 2.0050 => 4th TP: 1.9920 => 5th TP: 1.9750 ***Join Free Telegram Signal: t.me
It doesn’t look like the bullish candlesticks are gonna stop anytime soon, so y’all might have to wait until we see consolidation or bearish momentum before you bet on GBP/NZD extending its downtrend. If you’re planning to short NZD, then you’ll want to place your stops just above the channel and aim for November’s lows for maximum reward-to-risk ratio.