GBPNZD ____ INCOMING BEARISH MOVE
Hello Traders,
GBPNZD has been heavily bullish and with this bullishness, it created imbalances which can also be referred to as price inefficiency which would be made efficient or rebalanced in the future.
Last week, there was a bearish CHOCH on the daily timeframe which indicates a shift from bullish to bearish. Could this mean that price is ready to rebalance the inefficiencies? I don't know but the probabilities are positive.
I will be waiting to see if price will trade into the daily supply orderblock. When this happens, I will go into the 1hour timeframe to see if there will be a shift in structure to go short. If I don't see, I don't trade.
Price might not get to the order block due to the strong bearish move and just continue. Our job is to wait.
See below for correlated pairs: EURNZD, NZDCHF & NZDSGD
Follow for more updates like this.
EURNZD ANALYSIS
https://www.tradingview.com/chart/EURNZD/WlkY98dM-EURNZD-INCOMING-BEARISH-MOVE/
NZDCHF ANALYSIS
https://www.tradingview.com/chart/NZDCHF/6J9eGc0l-NZDCHF-INCOMING-BULLISH-RALLY/
NZDSGD ANALYSIS
https://www.tradingview.com/chart/NZDSGD/P4v27Moh-NZDSGD-INCOMING-BULLISH-RALLY/
Cheers,
Jabari
GBPNZD has been heavily bullish and with this bullishness, it created imbalances which can also be referred to as price inefficiency which would be made efficient or rebalanced in the future.
Last week, there was a bearish CHOCH on the daily timeframe which indicates a shift from bullish to bearish. Could this mean that price is ready to rebalance the inefficiencies? I don't know but the probabilities are positive.
I will be waiting to see if price will trade into the daily supply orderblock. When this happens, I will go into the 1hour timeframe to see if there will be a shift in structure to go short. If I don't see, I don't trade.
Price might not get to the order block due to the strong bearish move and just continue. Our job is to wait.
See below for correlated pairs: EURNZD, NZDCHF & NZDSGD
Follow for more updates like this.
EURNZD ANALYSIS
https://www.tradingview.com/chart/EURNZD/WlkY98dM-EURNZD-INCOMING-BEARISH-MOVE/
NZDCHF ANALYSIS
https://www.tradingview.com/chart/NZDCHF/6J9eGc0l-NZDCHF-INCOMING-BULLISH-RALLY/
NZDSGD ANALYSIS
https://www.tradingview.com/chart/NZDSGD/P4v27Moh-NZDSGD-INCOMING-BULLISH-RALLY/
Cheers,
Jabari
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