GBPNZD - SELL potential
Updated
Daily: Bearish engulfing candle after upper trendline line touch
Price is in an ascending channel
Overall trend = downtrend
4hrs:
LTF correction towards the upper trendline line, Indicating us that price could reject the upper trendline and move to the downside
Price broke out of the LTF correction, need to wait for a correction before an entry
Need to wait for a pullback
1hrs:
Possible Head and shoulders pattern forming
Price is in an ascending channel
Overall trend = downtrend
4hrs:
LTF correction towards the upper trendline line, Indicating us that price could reject the upper trendline and move to the downside
Price broke out of the LTF correction, need to wait for a correction before an entry
Need to wait for a pullback
1hrs:
Possible Head and shoulders pattern forming
Trade closed: stop reached
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