GBPNZD BEARISH CONTINUATION SETUP
The GBPNZD broke out of support level that lined up with ascending trendline with a five-wave impulse labelled wave 1.
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Currently, the price seems to be building a three-wave ABC zigzag corrective pattern labeled wave 2. The wave (c) of 2 "blue," is expected to terminate between 38.2 and 50.0 Fib ratio.
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Considering that the Fib ratio is lined up with moving averages and resistance zone, we will wait for the price to reach the confluence area and look for a breakout of the blue Counter Trend Line (CTL) for a conservative short entry.
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The price has the potential to move down towards the Fibonacci Extension 1 and support level at 1.81523 respectively.
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Thanks for reading!
Veejahbee.
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Currently, the price seems to be building a three-wave ABC zigzag corrective pattern labeled wave 2. The wave (c) of 2 "blue," is expected to terminate between 38.2 and 50.0 Fib ratio.
.
Considering that the Fib ratio is lined up with moving averages and resistance zone, we will wait for the price to reach the confluence area and look for a breakout of the blue Counter Trend Line (CTL) for a conservative short entry.
.
The price has the potential to move down towards the Fibonacci Extension 1 and support level at 1.81523 respectively.
.
Thanks for reading!
Veejahbee.
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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.
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.