Minor Pullback but Overall BEARISH ON GBPNZD
Initially, price was on an uptrend, making higher highs and higher lows.
Price then met resistance at the daily resistance/supply level.
Here price then formed a double top, which when a double top occurs at the end of an uptrend it can serve as a candlestick reversal pattern. With this formation also occurring at the daily resistance, this is potentially a strong bearish confluence or confirmation.
After the creation of the double top price then broke below the neckline, and it appears to have made a brief bearish push and formed a low.
Now I am expecting price to pullback and either test the neckline of the double top or at least pullback and test the 50.0 fib level. I think this would ultimately create a lower high and prepare price for its next major bearish push to the downside.
Feel free to like if you agree. If you see something else, leave a comment please.
Price then met resistance at the daily resistance/supply level.
Here price then formed a double top, which when a double top occurs at the end of an uptrend it can serve as a candlestick reversal pattern. With this formation also occurring at the daily resistance, this is potentially a strong bearish confluence or confirmation.
After the creation of the double top price then broke below the neckline, and it appears to have made a brief bearish push and formed a low.
Now I am expecting price to pullback and either test the neckline of the double top or at least pullback and test the 50.0 fib level. I think this would ultimately create a lower high and prepare price for its next major bearish push to the downside.
Feel free to like if you agree. If you see something else, leave a comment please.
כתב ויתור
המידע והפרסומים אינם אמורים להיות, ואינם מהווים, עצות פיננסיות, השקעות, מסחר או סוגים אחרים של עצות או המלצות שסופקו או מאושרים על ידי TradingView. קרא עוד בתנאים וההגבלות.