Evening Traders,
Today’s analysis – GBPNZD- trading towards a key support area where a bounce is probable,
Points to consider,
- Price Action Corrective
- .618 Fibonacci Support
- Bullish OB Support
- Low Volume
GBPNZD’s immediate price action is trading towards a key trade location that is in technical confluence with the .618 Fibonacci and the Bullish OB, allowing for a bullish bias.
The immediate objective is the bearish OB resistance, a rejection here is probable.
The current volume profile is below average, an influx is highly imminent on the next expansion.
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,
“Trading effectively is about assessing probabilities, not certainties.”
― Yvan Byeajee
Today’s analysis – GBPNZD- trading towards a key support area where a bounce is probable,
Points to consider,
- Price Action Corrective
- .618 Fibonacci Support
- Bullish OB Support
- Low Volume
GBPNZD’s immediate price action is trading towards a key trade location that is in technical confluence with the .618 Fibonacci and the Bullish OB, allowing for a bullish bias.
The immediate objective is the bearish OB resistance, a rejection here is probable.
The current volume profile is below average, an influx is highly imminent on the next expansion.
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,
“Trading effectively is about assessing probabilities, not certainties.”
― Yvan Byeajee
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Claim $1000 Deposit Bonus 🎁
Trade with perks & support the community!
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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 ⚔️
Declinazione di responsabilità
Le informazioni e le pubblicazioni non sono intese come, e non costituiscono, consulenza o raccomandazioni finanziarie, di investimento, di trading o di altro tipo fornite o approvate da TradingView. Per ulteriori informazioni, consultare i Termini di utilizzo.