Gbpnzdanalysis
GBPNZD 4H TIMEFRAME Welcome to BittuFX - Trading 🎯
GBPNZD 4H TIMEFRAME!
GBPNZD SELL - 1.95220
🎯TP - 1.95000
🎯TP - 1.94715
🎯TP - 1.92700
📈SL - 1.96225
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Multi-Wick Rejection Offf The Weekly Level Can Lead To ShortThis is a very jittery uptrend. And there are a lot of which rejections on my weekly area around 1.94408. I can see this from the daily timeframe. This could mean that we're getting ready for a short and if any reversals are possible, it will happen later part of the week. For now, my targets will be targeting daily levels from both sides. So less he had a market plays out.
BULL TPs:
• 1.94408
• 1.94950
• 1.96092
BEAT TPs:
• 1.93297
• 1.92725
• 1.92020
• 1.91514
• 1.91065
Can The Bull Rally Stop The Possible Short?Have bearish engulfing on the 4hr that has to be retested. But I don't think the retest may last long. We may keep continuing up to test the weekly 1.94408 area, shoot back down as a rejection.
With the large inverted head and shoulders below, we might pass up though to continue the rally.
Otherwise, we may just keep dropping on down until we reach the daily 1.90910 area before another attempt back up.
BULL TPS:
• 1.93496
• 1.93871
• 1.94408
• 1.94950
BEAR TPS:
• 1.92628
• 1.92020
• 1.91065
• 1.90353
GBPNZD - Breakout TrapPlease be cautious when trading the head and shoulders breakout on this pair as it could result in a reversal. If the breakout is confirmed then look to continue buying but if the price shows signs of closing back below the arrow marked then get out because this could drop aggressively.
GBPNZD LONG - POTENTIAL IMPULSIVE MOVE BACK TO HIGHS!In this video, I explain why I think we could be in for a swing to the downside for this pair and see price take out the previous lows and eventually reach 1.19000.
Thanks for watching!
Leave a comment if you agree, disagree or have any questions:)