4H GBPNZD is on retracement and hit the bullish trendline. We got triple bottom on 1H with oversold RSI (below 20) and a divergence. Bullish Trend Continuation is expected. Entry at 1.9766 (Fibo 50% retracement). Target for the next resistance around 1.9950.
Comentários
chetan.visa
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If this 4H candle closes below 1.9750 then game on... it will fall drastically..
DennySantoso
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If it closes below the lowest wick, then yes, it will fall, but apparently as today, it's still rally up. It's still on a minor resistance now taking a breath, if it's close higher, then next target suppose the be around 1.98490
chetan.visa
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You were right..How much upside you see in this pair? I stucked in short.
DennySantoso
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not sure, 9930 is resistance from May and 9965 is previous resistance. But if you ask me for far will it rally, i don't know. From Fibo extension, and looking at the RSI, it could be around 2.0130.
chetan.visa
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OMG..
DennySantoso
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it moves beyond the resistance
chetan.visa
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Denny so what you think now? it has come down to 1.9920. So what next?
chetan.visa
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For now it looks like it will break the trend and will go down..