Today’s analysis – GBPNZD- trading below its Daily S/R where a bearish retest is probable,
Points to consider,
- Price Action Impulsive
- Daily S/R Resistance
(Deviation)
- Local S/R Support
- Low Volume
GBPNZD’s immediate price action is trading at a key resistance where a bearish retest will allow for a short bias.
The immediate objective will be the Local S/R, holding this is level is critical for the market structure.
The current profile is below average, an influx is highly imminent when testing key trade locations.
Overall, in my opinion, GBPNZD is a valid short with defined risk, price action is to be used upon discretion/ management.
Hope this analysis helps,
Thank you for following my work,
And remember,
“Trading effectively is about assessing probabilities, not certainties.”
― Yvan Byeajee
Points to consider,
- Price Action Impulsive
- Daily S/R Resistance
(Deviation)
- Local S/R Support
- Low Volume
GBPNZD’s immediate price action is trading at a key resistance where a bearish retest will allow for a short bias.
The immediate objective will be the Local S/R, holding this is level is critical for the market structure.
The current profile is below average, an influx is highly imminent when testing key trade locations.
Overall, in my opinion, GBPNZD is a valid short with defined risk, price action is to be used upon discretion/ management.
Hope this analysis helps,
Thank you for following my work,
And remember,
“Trading effectively is about assessing probabilities, not certainties.”
― Yvan Byeajee
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Join the Free Trading Group
Telegram: t.me/freetradingden 🔥
Unlock Blofin Bonuses
Trade with perks & support the community!
partner.blofin.com/d/alchemisttrader 🎁
Stay sharp, trade smart.
— Team The Alchemist ⚔️
Telegram: t.me/freetradingden 🔥
Unlock Blofin Bonuses
Trade with perks & support the community!
partner.blofin.com/d/alchemisttrader 🎁
Stay sharp, trade smart.
— Team The Alchemist ⚔️
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.