The slope of this median line set is working extremely well, with price finding more than once resistance at the sliding parallel above the median line. We previously saw another rejection at the level, a sign that resistance is still present. Keep an eye for a sell setup completion before shorting GBPNZD
GBPNZD sell intraday double waves around 1.9320 – 1.9400 zone. I expect the pair to continue its down move just waiting for best risk:reward ratio that we can get here. There is a very big chance the H4 chart to create hidden bearish divergence will will be an extra confirmation for this setup. Conservative entry will be with the break of the intraday bullish...
#GBPNZD - Great Trading Scenario for who has already bought. This currency is rising after the testing of the lowest demand in the chart and the testing of the highest one. Definitely 2 amazing trading opportunities. I drawn on the chart by a red arrow, a potential sell trade. According with the trading plan, there is the possibility of a bounce back...
Very short term long on this pair, I m not expecting much but to at least 2.3975. usually Stop loss should be at little below X for these patterns but for this one i will be placing stoploss near D. If i see that price reverses then i m gonna close it.
Falling Wedge appears Good Sign To Short Gbpnzd looks good for a short as breaking down at this point towards downward direction so i am short Take profit Hit
This trade based on price action. I am of the opinion that GBPNZD is hitting major support area (two upward trend lines). From this area that pair can go higher.