GBPNZD POTENTIAL RESISTANCE
If the pair pulls back to either the 2.14 area there could be a potential opportunity for a short.
Reasons to short -
Trend is bearish
Returning to a major SR level (blue line)
The previous time it was at this level there was a strong sell off, and it is the first time it could return to this area (yellow box)
A confluence of fibonacci levels from previous highs (inside the yellow box)
Good risk to reward ratio
However, keep on eye on the light pink area as this could also prove to be a resistance area. It is already pushing against the area and finding it hard to break through.
Reasons to short -
Trend is bearish
Returning to a major SR level (blue line)
The previous time it was at this level there was a strong sell off, and it is the first time it could return to this area (yellow box)
A confluence of fibonacci levels from previous highs (inside the yellow box)
Good risk to reward ratio
However, keep on eye on the light pink area as this could also prove to be a resistance area. It is already pushing against the area and finding it hard to break through.
Trade ativo
Trade now active after waiting three weeks for it to return to the yellow zone.Trade fechado manualmente
Trade stopped out at break even
Aviso legal
As informações e publicações não devem ser e não constituem conselhos ou recomendações financeiras, de investimento, de negociação ou de qualquer outro tipo, fornecidas ou endossadas pela TradingView. Leia mais em Termos de uso.
Aviso legal
As informações e publicações não devem ser e não constituem conselhos ou recomendações financeiras, de investimento, de negociação ou de qualquer outro tipo, fornecidas ou endossadas pela TradingView. Leia mais em Termos de uso.