H/S ON GBPNZD

9 thg 3, 2022

GBPNZD, weekly price rejection from a potential DEMAND ZONE. If the week candle close as inside bar any form of indecision candle, it gives a clear view about how seller are fed-up to continue the sell, and a likely retracement to push price further upside to the 0.618 zone of the bearish leg anticipating a potential H/S at 1.9320. with this price complete the pull back of the first leg ABC and a good opportunity to continue further downside to complete the leg CD, making leg AB=CD. am expecting price to push from 1.9320 to 1.9530 with a close stop @ 1.9120, for the pull back. but the main focus should be the leg CD which might extend price to further downside 1.8000 zone.