GbpNzd best setup for this week Gbpnzd is having new impulse started all he way to down side
this will be a good trade for this week
Gbpnzdshort
GBPNZD - Potential Downside?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!
GBPNZD | Perspective for the new week | Follow-up detailsWe 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 to a reversal pattern within the Supply zone at 61.8/78.6% retracement of the impulse leg to incite a risk of further decline in price in the coming week(s).
Tendency: Downtrend (Bearish)
Structure: Breakdown | Supply & Demand | Channel | Reversal pattern (retracement levels)
Observation: i. Since the beginning of the year (2021), It has been a Bullish run for the Pound before hitting a peak @ N$2.00500 (between June and August 2021) - a zone characterized by a triple Top look-a-like.
ii. This feat was later followed by a significant Breakdown of a Level that held price "supported" between June and August 2021 to allow a bias shift in favour of the bears in the coming week(s).
iii. TRIPLE TOP: formation of three peaks moving into the same zone @ at approximately N$2.00000, with pullbacks in between is considered complete when the price broke down pattern support @ N$1.96000 on the 31st of August 2021, hereby indicating a possible further price slide in the nearest future.
iv. Even as a Bearish perspective is building upon this pair, it is required that we sprinkle the tempo of opening a bearish position with a little bit of patience as we are yet to get a signal to go short.
v. This been said; I shall be looking forward to a reversal pattern within the Supply zone around N$1.97000/1.989500 and this might share a confluence with a 61.8/78.6% retracement of the Impulse leg (Breakdown of Demand zone) to transition into a possible Harmonic pattern (AB = CD).
vi. The early hours/days of the new week might see a price climb before inciting a further decline.
vii. If a climb happens, I have identified a niche around N$1.97000/1.989500 for selling opportunities with confirmations right below the Key level @ N$1.960000 area... This is a volatile pair hence trade consciously!😊
Trading plan: SELL confirmation with a minimum potential profit of 300 pips.
Risk/Reward : 1:4
Potential Duration: 5 to 15days
NB: This speculation might be considered to make individual decisions on the lower timeframe.
Watch this space for updates as price action is been monitored.
Risk Disclaimer:
Margin trading in the foreign exchange market (including commodity trading, CFDs, stocks etc.) has a high risk and is not suitable for all investors. The content of this speculation (including all data) is organized and published by me for the sole purpose of education and assistance in making independent investment decisions. All information herein is for your reference only and I take no responsibility.
You are hereby advised to carefully consider your investment experience, financial situation, investment objective, risk tolerance level, and consult your independent financial adviser as to the suitability of your situation prior to making any investment.
I do not guarantee its accuracy and is not liable for any loss or damage which may result directly or indirectly from such content or the receipt of any instruction or notification therewith.
Past performance is not necessarily indicative of future results.
FOREX ANALYSIS : GBPNZDFX:GBPNZD
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.
GBPNZDafter one month of correction , we are expecting the impulsive phase to begin. sell change in oct 2021.
GBPNZD Short 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 size, Use lot sizes based on these calculations.
Here is a break down of your pip value in ZAR and Dollars
0, 01 = R1,43 / $0,10c
0. 05 = R 7,15 / $ 0.50
0.10 = R 14,3 / $1.00
1 Lot size = R 146,26
How to calculate Margin = (Lot Size * Contract Size)/Leverage, Lets say your broker gives you 1:500, and you open 0,2 size, How much are you exposing ? calculations : (0.2 * 10 000) / 500 = $4 (R58) also (1 Lot * 100 000) / 500 = $200 (R2 960)
So, each time I open (1 Lot size, am exposing R2960 (Down payment)
Remember, These are long term trades, It is advisable to have enough margin to handle the fluctuation of the markets.
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GBPNZD approaching pivot, potential for drop!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 resistance.
Alternatively, price could potentially swing towards resistance at 1.97045, in-line with 50% Fibonacci retracement level and 161.8% Fibonacci extension .
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GBPNZD SHORTPrice made a huge Expanding channel with a strong push down after the 3rd touch, let's see how this will play out
RRR 1:2.2
SL 70 Pips
TP 160 Pips
GBP/NZD SELL OPPOTUNITY VIEW NOW......
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.
Dear Traders,
If you like this idea, do not forget to support with a like and follow.
GBPNZD-Long#GBPNZD
Market moving in ascending channel and currently unable to cross support. So looking for buy.
New GBPNZDprice make a broadening wedge pattern, and the last structure price made an uptrend but already breakout, it will be going down and break out the support or going down for bouncing back to the uptrend.
GBPNZD Will Go Down! Sell!#GBPNZD H4 Time Frame
Here Is The Bear Flag Pattern Break Out
Now We Are Looking More Down Before Going Up
GBPNZD Price has reached the support zone, but failed to break through it. The next point price will retrace to is resistance before giving us a clear sell.
GBPNZD DAILY TIMEFRAME ANALYSIS SELLWe consider selling this GBPNZD pair because of a strong resistance above. We know what we are doing and we do what the market is doing. This is more than an institutional analysis. Invest wisely. Thank you for following me on tradingview.
GBP/NZD SELL OPPOTUNITY VIEW NOW......
AronnoFX will not accept any liability for loss or damage as a result of
reliance on the information contained within this channel including
data, quotes, charts and buy/sell signals
If you like this idea, do not forget to support with a like and follow.
Traders, if you like this idea or have your own opinion about it,
write in the comments. I will be glad.
GBPNZD - Bearish BiasGBP - Weak Bearish
1️⃣ The number of daily COVID-19 cases in the UK increased by 32,181, while the number of deaths increased by 50 people.
2️⃣ Former Democratic Union Party (DUP) leader Arlene Foster has raised concerns of irreparable damage due to the deadlock over the Northern Ireland (NI) protocol.
NZD - Strong Bullish
1️⃣ Positive sentiment in the market supports the strength of high-beta currencies such as the NZD.
2️⃣ New Zealand retail sales rose 3.3% in the second quarter, following a 2.5% increase in the previous period.
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Technical
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We are selling the GBPNZD after the price has break previous support.
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Risk to this trade
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Any change in sentiment could turn the pair's direction.
GBPNZD For A SellGBPNZD looking at a push back to the consolidation phase striking the smart money area then crashing back to the liquidity of the low
nothing complicated just simple bias on structure
what are your thoughts.........?
💡Don't miss the great sell opportunity in GBPNZDTrading suggestion:
". There is still a possibility of temporary retracement to the suggested resistance line (1.9676).
if so, traders can set orders based on Price Action and expect to reach short-term targets."
Technical analysis:
. GBPNZD is in a range bound, and the beginning of a downtrend is expected.
. The price is below the 21-Day WEMA, which acts as a dynamic resistance.
. The RSI is at 30.
Take Profits:
TP1= @ 1.9571
TP2= @ 1.9471
TP3= @ 1.9327
TP4= @ 1.9171
TP5= @ 1.9004
SL: Break Above R2
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💡Don't miss the great sell opportunity in GBPNZDTrading suggestion:
". There is still a possibility of temporary retracement to the suggested resistance line (1.9676).
if so, traders can set orders based on Price Action and expect to reach short-term targets."
Technical analysis:
. GBPNZD is in a range bound, and the beginning of a downtrend is expected.
. The price is below the 21-Day WEMA, which acts as a dynamic resistance.
. The RSI is at 30.
Take Profits:
TP1= @ 1.9571
TP2= @ 1.9471
TP3= @ 1.9327
TP4= @ 1.9171
TP5= @ 1.9004
SL: Break Above R2
❤️ If you find this helpful and want more FREE forecasts in TradingView
. . . . . Please show your support back,
. . . . . . . . Hit the 👍 LIKE button,
. . . . . . . . . . . Drop some feedback below in the comment!
❤️ Your Support is very much 🙏 appreciated!❤️
💎 Want us to help you become a better Forex / Crypto trader?
Now, It's your turn!
Be sure to leave a comment; let us know how you see this opportunity and forecast.
Trade well, ❤️
ForecastCity English Support Team ❤️
INCREASINGLY BEARISH!!!Now let's talk about this beauty, i take trends very seriously. However, a break of such is one of my favorites and how could I turn a blind eye on this babe?
First, let's take note of the quad top, denoting the lack of strength to breakout to the upside and continue with it's multiple week long trend.
Secondly, please note the range this was trading in and how it was violated in one day, with which the range has been broken provides weakness and uncertainty for longs.
Lastly, it's a long way before there's reasonable support making this risk to reward more tasteful.
Extras, if you're going to take this trend wait for a possible retest of support area and if it doesn't reject do not short!! .
Regards,
