Disliked{quote} Yes, indeed. GBPNZD analysis: We can see price retraced slightly after the long term uptrend, indicating that the bulls lost their power over the trend, then regained it after another retracement back up. However, price could NOT make a new high, and has once again retraced back down. DAILY MACD IS POINTING DOWN AND GIVING SHORT SIGNALS NOW. {image} The Weekly chart shows that price is WITHIN a price trend ending consolidation zone, and this is WHERE IT HAS BEEN REVERSING. {image} Time to short.Ignored
Great analysis! I just want to point out to you that GBP/NZD is the most volatile pair available to trade along with GBP/JPY.
GBP/NZD has an average daily range of 175 pips during 2013! I recommend you use at least a 260 pip SL and a 320 TP for this pair. 160 SL will NOT work very well with this particular pair... Trust me, I learned the hard way.