UPDATE GBPNZD - Still in play but the warning is concerning
W Formation formed and broke above.
The big warning and problem is that there was low volatility and the market was moving in a continued sideways range.
This is concerning because the buyers are not too strong which is why we now had a large bearish engulfing candle showing how the sellers are running the show.
7>21 but <200MA
RSI <50 - Turned bearish
Target 2.000
But this is still a medium probability trade
The big warning and problem is that there was low volatility and the market was moving in a continued sideways range.
This is concerning because the buyers are not too strong which is why we now had a large bearish engulfing candle showing how the sellers are running the show.
7>21 but <200MA
RSI <50 - Turned bearish
Target 2.000
But this is still a medium probability trade
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Trade Well,
Timon Rossolimos
Founder, MATI Trader
(Pro trader since 2003)
facebook.com/groups/matitrader
🌐Website:
timonandmati.com
𝕏 (Formerly Twitter):
twitter.com/timonr
Trade Well,
Timon Rossolimos
Founder, MATI Trader
(Pro trader since 2003)
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