Gbpnzd longsPrice was in an uptrend and then retraced to form a double bottom. I expect it to restest the previous highs after the rejection at the support.
NZDGBP trade ideas
Gbpnzd longsPrice was in an uptrend and then retraced to form a double bottom. I expect it to restest the previous highs after the rejection at the support.
Heading into pullback resistance, could it reverse?GBP/NZD is rising towards a resistance level which is a pullback resistance that aligns with the 38.2% Fibonacci retracement and could reverse from this level to our take profit.
Entry: 208794
Why we like it:
There is a pullback resistance which lines up with the 38.2% Fibonacci retracement.
Stop loss: 2.09653
Why we like it:
There is a pullback resistance.
Take profit: 2.06809
Why we like it:
There is a pullback support.
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GBPNZD - Potential 200-400 pips move upPrice completed a broadening top and broke to the downside.
The bottom for this wave is likely in.
This pattern has a high bust rate (failure), meaning once price breaks back into the pattern, there is a high chance of it reaching the top again.
For now, target is just the mid-level of the pattern.
GBPNZDAs GBPNZD breaks the trendline and exits the accumulation zone, it presents a potential long opportunity. This breakout suggests a shift in market sentiment, providing a favorable setup for entering a long position and capitalizing on the emerging upward momentum
GBPNZD Potential DownsidesHey Traders, in tomorrow's trading session we are monitoring GBPNZD for a selling opportunity around 2.07400 zone, GBPNZD is trading in a downtrend and currently is in a correction phase in which it is approaching the trend at 2.07400 support and resistance area.
Trade safe, Joe.
NZD STRONG CORRELATION AND VOLATILITYLooking forward for liquidity grabs. And possible new price range
✅GBP_NZD POTENTIAL LONG🚀
✅GBP_NZ D fell down sharply
But a strong support level was hit at 2.0672
Thus as a rebound is already happening
A move up towards the target at 2.0754 shall follow
LONG🚀
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GBPNZD Is Going Up! Long!
Here is our detailed technical review for GBPNZD.
Time Frame: 3h
Current Trend: Bullish
Sentiment: Oversold (based on 7-period RSI)
Forecast: Bullish
The market is on a crucial zone of demand 2.071.
The oversold market condition in a combination with key structure gives us a relatively strong bullish signal with goal 2.076 level.
P.S
We determine oversold/overbought condition with RSI indicator.
When it drops below 30 - the market is considered to be oversold.
When it bounces above 70 - the market is considered to be overbought.
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GBPNZD BUYAfter a down move market seems to be creating higher highs and higher lows and breaking structures to the up move
GBP-NZD Risky Long! Buy!
Hello,Traders!
GBP-NZD is retesting a
Horizontal support of 2.068
From where we are likely
To see a local bullish rebound
Buy!
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Check out other forecasts below too!
GBPNZD Swing BuyGBPNZD
Buy
Stop Loss: 2.064
Targets:
2.072
2.074
2.076
2.080
Swing Targets:
2.09
2.10
2.11
2.12
GBPNZD-NEUTRALGbpnzd is trending in accumulation phase waiting for breakout if it breaks the box price will print higher hiogh and higher lows
GBP/NZD Bearish Side Money Heist PlanMy Dear Robbers / Traders,
This is our master plan to Heist GBPNZD based on Thief Trading style Technical Analysis.. kindly please follow the plan I have mentioned in the chart. Our target is Green Zone that is High risk Dangerous level market is overbought / Consolidation / Trend Reversal at the level Bullish Robbers / Traders gain the strength. Be safe and be careful and Be rich.
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Loot and escape on the target 🎯 Swing Traders Plz Book the partial sum of money and wait for next breakout of dynamic level, Once it is cleared we can continue our heist plan to next new target.
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GBPNZD - Bullish Harmonic Pattern FormationThe GBPNZD currency pair is currently forming a Bullish Harmonic Pattern, specifically an XABCD pattern. This is a key indication of potential bullish reversal trends, particularly as the price approaches the D point. In harmonic patterns, Point D is known as the Potential Reversal Zone (PRZ), where we often anticipate a significant price reaction.
Confluence of Support Levels:
Point D not only signifies the completion of the harmonic pattern but also aligns with a critical support area. This confluence of factors enhances the probability of a bullish reversal. Additionally, the 4-hour trend line intersects at Point D, adding another layer of confirmation to our bullish outlook. This confluence provides a robust foundation for our bullish bias.
Entry, Stop Loss, and Take Profit Levels:
Given the analysis, our strategy involves taking a long position at the PRZ.
Entry Point: 2.07390
Stop Loss: 2.06732
Take Profit Levels:
TP-1: 2.08048
TP-2: 2.08706
TP-3: 2.09365
These take-profit levels have been strategically placed to capture potential gains at various stages of the anticipated bullish trend. The first target (TP-1) is modest, allowing us to secure initial profits. Subsequent targets (TP-2 and TP-3) aim to capitalize on extended bullish movements.
Conclusion:
The alignment of the Bullish Harmonic Pattern's Point D with a key support area and the 4-hour trend line provides a high-confidence setup for a bullish reversal in GBPNZD. By entering at 2.07390 with a stop loss at 2.06732, we mitigate risk while positioning ourselves to benefit from the expected upward trend. Our take-profit levels at 2.08048, 2.08706, and 2.09365 allow for a structured approach to capturing gains as the market moves in our favor.
This analysis underscores a well-rounded technical setup that aligns multiple indicators, increasing the probability of a successful trade.
GBPNZD SELLCould this be a possible selling zone for GBPNZD?
Based on what price action is telling, the market is still bearish overall using the weekly TF.
I'm anticipating sell for this pair based on the confluences that i'm getting at the current price range
GBPNZD 15M supply short Upon W sz being in control and the 10H supply created upon TL break and break of character,
There is a 15M supply zone left behind.
Thought of taking this short already in and working.
GBPNZD ShortPrice Action Trading.
Price in H4 & Daily TF is bearish. So price has retrace back into resistance level that have been tested a few times. Currently, Price have break through H1 Support and bullish trendline and close lower. Price now retesting the H1 support level. Taking the low.
Take short trade targeting a swing low of H4 time frame with R:R 1:6
GBPNZD LOWER TIME FRAME TRADE EXPLANATION GBPNZD LOWER TIME FRAME TRADE EXPLANATION
30 min sz trade
Hunting a 1/3 rr
BUT we have huge W dz way lower.
Depending on how the market reacts to this 30m supply, ratios might change to 1/4.5 or 1/10
GBPNZDUpdated LONG idea for GBPNZD on the theory markets ranges 70% of the time. 30m LTF seems to be holding the LTF TL for now. I normally take late positions if retracement is no more than 30% of previous 4h bearish leg.
