Evening Traders,
Today’s analysis – GBPNZD- trading at a key resistance where a rejection is probable,
Points to consider,
- Price Action Impulsive
- Daily S/R Resistance
- Liquidity Zone
- .618 Fibonacci Objective
GBPNZD’s immediate price action is trading below current Daily S/R that has a valid liquidity area, allowing for a short bias.
The .618 Fibonacci is the current objective, a bounce here is probable, breaking this will increase the probability of testing the swing low.
Overall, in my opinion, GBPNZD is a valid long with defined risk, price action is to be used upon discretion/ management.
Hope this analysis helps,
Thank you for following my work
And remember,
“Focus, patience, wise discernment, non-attachment —the skills you acquire in meditation and the skills you need to thrive in trading are one and the same.”
― Yvan Byeajee
Today’s analysis – GBPNZD- trading at a key resistance where a rejection is probable,
Points to consider,
- Price Action Impulsive
- Daily S/R Resistance
- Liquidity Zone
- .618 Fibonacci Objective
GBPNZD’s immediate price action is trading below current Daily S/R that has a valid liquidity area, allowing for a short bias.
The .618 Fibonacci is the current objective, a bounce here is probable, breaking this will increase the probability of testing the swing low.
Overall, in my opinion, GBPNZD is a valid long with defined risk, price action is to be used upon discretion/ management.
Hope this analysis helps,
Thank you for following my work
And remember,
“Focus, patience, wise discernment, non-attachment —the skills you acquire in meditation and the skills you need to thrive in trading are one and the same.”
― Yvan Byeajee
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Telegram: t.me/freetradingden 🔥
Claim $1000 Deposit Bonus 🎁
Trade with perks & support the community!
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— 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.
Join the Free Trading Group
Telegram: t.me/freetradingden 🔥
Claim $1000 Deposit Bonus 🎁
Trade with perks & support the community!
partner.blofin.com/d/TheAlchemist
Stay sharp, trade smart.
— Team The Alchemist ⚔️
Telegram: t.me/freetradingden 🔥
Claim $1000 Deposit Bonus 🎁
Trade with perks & support the community!
partner.blofin.com/d/TheAlchemist
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.