HELLO TRADERS, THIS IS A TRADE IDEA BASED ON TECHNICAL ANALYSIS ALONE.

GBPNZD DAILY

MARKET IS BULLISH. PRICE ACTION ALSO BULLISH. PRICE CURRENTLY AT MM4 RESISTANCE & 1.83 PSYCH WHICH SEEMS TO BE HOLDING PRICE. NOTE PRICE IS @ PROFIT TAKING ZONE & STOCHASTICS IS @ THE 80% LINE & ABOUT TO BE OVERBOUGHT. A REVERSAL PATTERN ON LOWER TIME FRAMES WOULD SIGNAL A SHORT TRADE.

GBPNZD H4

MARKET IS BULLISH (21 ABOVE THE 55). PRICE ACTION IS SIDEWAYS (5 & 8 EMA FLAT). RESISTANCE MARKED IN PINK & SUPPORT IN GREEN. PRICE HAS FAILED TO BREAK ABOVE 1.83 (COINCIDES WITH MM4) & ITS TESTING THIS RESISTANCE AREA FOR A THIRD TIME. I WOULD LIKE TO SEE A BREAK OF SUPPORT & A RETEST @ ROLE REVERSAL FOR A SHORT TRADE.

GBPNZD H1

MARKET IS SIDEWAYS. PRICE IS @ DR2 RESISTANCE. STOCHASTICS IS OVERBOUGHT. RANGE STRATEGY SAYS BEARS SHORT @ THE TOP OF THE RANGE & PRICE IS @ PROFIT ZONE. SUPPORT IS IDENTIFIED BY THE GREEN BARS. I WILL WAIT FOR A REVERSAL PATTERN FROM THE LOWER TIME FRAMES.

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