GBPNZD: Correction wave before the breakout

19 Kas 2020

As seen in this daily chart, the GBPNZD might have completed the fifth Elliott's wave within a descending triangle. This pair might form several correction wave that will be followed by a breakout probably above the resistance level. When the breakout do occur, wait for a pullback before entering the market. My bias for the long run is for long.

1 Ara 2020

Not

Breakout below the support area had occured as seen in the 4H and daily time frame followed by a pullback to the support that now hadd became the new resistance area (Support became Resistance). If the price continue to descend, go for short.