GBPNZD - Bearish Engulfing

Short

Britisches Pfund / Neuseeländischer Dollar (FX:GBPNZD)

Aktualisiert

FX:GBPNZD Britisches Pfund / Neuseeländischer Dollar

trendanalysis chartpattern waveanalysis gbp nzd gbpnzd sell bearish engulfingcandle support daily weekly

GBPNZD has formed a bearish engulfing candle on the daily time-frame. RSI divergence shows the price is ready to move down quickly. Slight Bollinger Band outbreak. Price appears to still be in consolidation on the daily time-frame, however, after looking at the weekly time-frame this trade setup is further confirmed. A significant bearish engulfing candle formed recently on the weekly time-frame, and it appears the pullback has ended and now the price is ready to re-test previous lows and soon enough previous support. SL set above previous highs. TP set at previous lows. I will attach the weekly point of view below. For an even lower risk entry, you may wait for a pullback on the daily engulfing candle, then a bearish engulfing on a lower time-frame such as the 4H or 1H.

Trade ist aktiv

Kommentar:

Weekly POV:

Kommentar:

Price pulled back on the weekly time-frame as expected, now it is ready to make new lows.

Kommentar:

Confirmation candle closed.

Kommentar:

Sorry, I accidentally posted the GBPAUD confirmation candle screen shot above, here is the GBPNZD screen-shot after the close of the bearish engulfing confirmation candle.