Based on last night sharp drop, we have bearish moment on GBPNZD for couple of hours before NFP news ,
Then we will have a very nice divergence besides very strong long-term trend-line
The reserval zone is between 2.2850 and 2.2900
Possible Bearish Bat Scenario might going to be happened
First the market needs to secure and establish a strong base and foundation in Potential Reverse Zone ( PRZ ) area to expect the price increase. So we can have a bullish move up to 135.60 ( Bearish Bat 88% ) or 136.60 ( Bearish ALT Bat 113 % ) .
Then we will be ready to short the pair based on PA in...
Breaking long-term blue trend-line on daily chart brings sellers attention.
However because of the two days ago pin bar, there are lots of sell position !
These sell positions must be kicked out of the market before heading downward.
So, stops will be triggered if price goes above the the pin-bar, then most of the retailers will be dropped out of the market...
S&P 500 seems it loves Head and Shoulder pattern !
Look at 2010 reaction and huge drop.
Look at the recent red H&S pattern and its reaction.
And let's see the new GIANT head and shoulder pattern which is being developed and will be finished soon, may be this month or next month.
Going back to the past, we can see the result of head and shoulder pattern few...