GBPNZD 2-hour analysis - short trade idea
On the GBPNZD daily timeframe we saw the price rejected by de 2.00 whole number and weekly resistance zone . After that, price broke through up-trendline and daily support/resistance zone, dropping by 700 pips.
Further more, the pair made a correction and yesterday retested the daily support/resistance zone mentioned above. Finally, the pair ended the day with a bearish engulfing candlestick .
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On the 4 hour timeframe, the pair broke through the rising wedge .
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On the 2 hour timeframe, we see the price making higher lows and lower lows and retesting the previous zone, confirming our short bias.
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We are now waiting for a close below the previous 2-hour engulfing candlestick .
Further more, the pair made a correction and yesterday retested the daily support/resistance zone mentioned above. Finally, the pair ended the day with a bearish engulfing candlestick .
.
On the 4 hour timeframe, the pair broke through the rising wedge .
.
On the 2 hour timeframe, we see the price making higher lows and lower lows and retesting the previous zone, confirming our short bias.
.
We are now waiting for a close below the previous 2-hour engulfing candlestick .
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