Hello Traders,
I wanted to give everyone the big picture for
GBPNZD
, where we currently are and when are we likely to see a rotation on this pair to the downside. First of all, just looking at monthly price movement, we are clearly in a major downtrend, which is easily seen by the formation of several LH's and LL's. Next, we have a valid monthly trend line that recently has been successfully tested at the end of August (2015) month. We are coming close to the end of September and we are likely to see a monthly close above this monthly trend line. Moving on towards current price level, we are exactly up against the previous monthly support zone which is now acting as potential resistance.
Now plotting the monthly arc cycle, we can see that we could potentially be in a 88 month time cycle, with weekly and daily arc cycles lining up perfectly with the monthly arc cycle. The reason I am saying "potentially in a 88 month time cycle" is because we haven't yet completed 2 full monthly arc cycles. We might not be in a "88 month time cycle" BUT looking at what the market is showing us, we COULD POTENTIALLY be in a "88 month time cycle". Looking at current monthly price action, market is sitting very close to the rotation point of monthly arc cycle. Thus, there is still some room to the upside but we have to stay alert because we don't want to get ourselves caught up longing near the high's of this market. The rotation to the downside is coming very soon, but we need to have some patience. Let the market show it's hand first before we make our next move.
I have also labelled the POSSIBLE SCENARIO to the upside on the chart above. That's all I wanted to cover for this pair, hope everything was clear to everyone. Just leave a comment below if anyone still has some confusion.
Please feel free to AGREE or DISAGREE with this idea by leaving a comment below. Hit that thumbs up button (top left corner of this chart) if you like the idea. Thank you everyone for all the SUPPORT that you have given me so far, I truly appreciate it. Good luck everyone :)
I wanted to give everyone the big picture for
GBPNZD
, where we currently are and when are we likely to see a rotation on this pair to the downside. First of all, just looking at monthly price movement, we are clearly in a major downtrend, which is easily seen by the formation of several LH's and LL's. Next, we have a valid monthly trend line that recently has been successfully tested at the end of August (2015) month. We are coming close to the end of September and we are likely to see a monthly close above this monthly trend line. Moving on towards current price level, we are exactly up against the previous monthly support zone which is now acting as potential resistance. Now plotting the monthly arc cycle, we can see that we could potentially be in a 88 month time cycle, with weekly and daily arc cycles lining up perfectly with the monthly arc cycle. The reason I am saying "potentially in a 88 month time cycle" is because we haven't yet completed 2 full monthly arc cycles. We might not be in a "88 month time cycle" BUT looking at what the market is showing us, we COULD POTENTIALLY be in a "88 month time cycle". Looking at current monthly price action, market is sitting very close to the rotation point of monthly arc cycle. Thus, there is still some room to the upside but we have to stay alert because we don't want to get ourselves caught up longing near the high's of this market. The rotation to the downside is coming very soon, but we need to have some patience. Let the market show it's hand first before we make our next move.
I have also labelled the POSSIBLE SCENARIO to the upside on the chart above. That's all I wanted to cover for this pair, hope everything was clear to everyone. Just leave a comment below if anyone still has some confusion.
Please feel free to AGREE or DISAGREE with this idea by leaving a comment below. Hit that thumbs up button (top left corner of this chart) if you like the idea. Thank you everyone for all the SUPPORT that you have given me so far, I truly appreciate it. Good luck everyone :)
評論:
Hi everyone, in my description I stated that we are likely to get a monthly close above the monthly trend line, but that did not happen. Market was unable to close above the monthly trend line, thus signalling some potential downside moves on this pair. We need to see a monthly close above the monthly trend line as well as the monthly resistance zone (in yellow), in order for us to go higher on this pair.
