GBPNZD short based on timeframe correlation and price action
Shorting based on timeframe agreement and price action
**DAILY**
> lower lows and lower highs
> yesterday's candle is an assumed lower high giving a good reference point for a stoploss above that level
> Yesterday's candle interacted with previous zonal support and resistance, as well as the upper edge of a the linear regression channel. These are good indications that the price could be overbought and therefore move lower
** 4 Hourly**
> price structure on the 4 hourly has viable started to make a lower low. This is not yet confirmed though has need a lower high to materialize
> the price action the 4 hourly is the only chart which gives me cause for concern to short
** Lower timeframes**
> good signs of lower lows and lower highs, with the price moving within the linear regression channel
Trade Setup:
> entered at 1.8539. If entering, would wait for the price to get near to that region
> stoploss above yesterday's high
> take profit on 1:1 reward to risk means a level around 1.8304
**DAILY**
> lower lows and lower highs
> yesterday's candle is an assumed lower high giving a good reference point for a stoploss above that level
> Yesterday's candle interacted with previous zonal support and resistance, as well as the upper edge of a the linear regression channel. These are good indications that the price could be overbought and therefore move lower
** 4 Hourly**
> price structure on the 4 hourly has viable started to make a lower low. This is not yet confirmed though has need a lower high to materialize
> the price action the 4 hourly is the only chart which gives me cause for concern to short
** Lower timeframes**
> good signs of lower lows and lower highs, with the price moving within the linear regression channel
Trade Setup:
> entered at 1.8539. If entering, would wait for the price to get near to that region
> stoploss above yesterday's high
> take profit on 1:1 reward to risk means a level around 1.8304
Dagangan ditutup: hentian tercapai
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.