GBPNZD SHORT TRADE
Updated
Bearish wave (A) ended at level 2.0046
then corrective bullish wave (B) occurred
Price is rejected from 50% Fibonacci level of preceding bearish wave with confirmation of pin bar candlestick
Price is based below HVN at level 2.0464 which indicates that pair is distribution phase
Below SMA 100 on H1 frame
RSI below level 50
It's expected for coming bearish wave (C) to target level 1.9815
then corrective bullish wave (B) occurred
Price is rejected from 50% Fibonacci level of preceding bearish wave with confirmation of pin bar candlestick
Price is based below HVN at level 2.0464 which indicates that pair is distribution phase
Below SMA 100 on H1 frame
RSI below level 50
It's expected for coming bearish wave (C) to target level 1.9815
Trade active
running +135 pips
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