GBPNZD Short - Bearish Bat
Shark week continues- once again on a GBP pair. I am expecting the pound to drop across the market in the next couple of weeks!
This bearish shark is reaching completion at a key resistance zone on this pair, as are most of the GBP pairs at this time. GBP has seen some growth over the past couple of weeks, so I am expecting a sell off to balance out supply/demand. See more below.
Risk:Reward @ 1:3 as always! Stop loss at 1.90172 with a target price of 1.80631- an entry directly on our PRZ would bring a return of just over 700 pips! Hopefully price edges a little higher and we can take a good entry- I will not enter below a D point.
Bat Ratios
X:B = 0.38-0.5
A:C = 0.382-0.886
B:D = 1.618-2.618
X:D = 88.6%
This bearish shark is reaching completion at a key resistance zone on this pair, as are most of the GBP pairs at this time. GBP has seen some growth over the past couple of weeks, so I am expecting a sell off to balance out supply/demand. See more below.
Risk:Reward @ 1:3 as always! Stop loss at 1.90172 with a target price of 1.80631- an entry directly on our PRZ would bring a return of just over 700 pips! Hopefully price edges a little higher and we can take a good entry- I will not enter below a D point.
Bat Ratios
X:B = 0.38-0.5
A:C = 0.382-0.886
B:D = 1.618-2.618
X:D = 88.6%
Note
This trend line has been tested frequently- with one false break mid rally. I believe we should see declines once this is successfully broken.
Publications connexes
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Publications connexes
Clause de non-responsabilité
Les informations et les publications ne sont pas destinées à être, et ne constituent pas, des conseils ou des recommandations en matière de finance, d'investissement, de trading ou d'autres types de conseils fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.