$EURNZD | Gwaves Detected | Target Area Defined
Hello Traders,
EURNZD has provided a potential "playing field" for price to adhere to. Look for the Red S/R line to act as the magnetic force pushing price lower. Once that field is broken, look for the Green line to act as the next level of support. The Green line is our target with a more specific target area defined. I have provided a possible trajectory for price with the pink arrows.
IF price breaks UP from the Red S/R line, this trade will be void.
Best,
Sirak Babayan
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Facebook: www.facebook.com/GWavesOfficial
Twitter: twitter.com/GWaveOfficial
Stocktwits: stocktwits.com/GWaves
EURNZD has provided a potential "playing field" for price to adhere to. Look for the Red S/R line to act as the magnetic force pushing price lower. Once that field is broken, look for the Green line to act as the next level of support. The Green line is our target with a more specific target area defined. I have provided a possible trajectory for price with the pink arrows.
IF price breaks UP from the Red S/R line, this trade will be void.
Best,
Sirak Babayan
------------------
Facebook: www.facebook.com/GWavesOfficial
Twitter: twitter.com/GWaveOfficial
Stocktwits: stocktwits.com/GWaves
Comentarios:
Update: Look for a small correction here respecting the inner boundary of the red field. As price breaks out of the red field, look for the target area to be hit.
Comentarios:
UPDATE: EURNZD wasted no time moving towards target after it broke out of the red price field.
Comentarios:
Update: One of the most interesting aspect of the Gwave is how unorthodox it is in defining support and resistance levels. I'm thrilled that I get to you just how it works in this EURNZD trade.
Take a look at the area that the red and orange circle cross one another. That was our original level of support. With the recent low and correction to the upside, Gwaves has now defined the orange wave as the current playing field for price as it respected the previous support level. As we look into the future, we can see that the blue wave is encompassing our entry level for this trade. This too will play a role in the movement of price.
With the Orange and Blue waves, then, we can triangulate a possible landing spot for price.
Take a look at the area that the red and orange circle cross one another. That was our original level of support. With the recent low and correction to the upside, Gwaves has now defined the orange wave as the current playing field for price as it respected the previous support level. As we look into the future, we can see that the blue wave is encompassing our entry level for this trade. This too will play a role in the movement of price.
With the Orange and Blue waves, then, we can triangulate a possible landing spot for price.
