GBPNZD Forecast and Trade Setup for 20th March, 2014

Hourly Chart

Both charts is H1, (One with Pattern drawn in one without)

• We are trading into resistance, and with Price action performing minor pin bars, I was not too convinced to take a short due to the recent bullish momentum
• And the fact that price has been sitting around this area, is not appealing to me for a short

• I'd be more intended to short it at the confluence of the 78.6fib and 161.8fib ext and a trend line which also can be a bat pattern
• Stochs will also diverge if so

Outlook Trade opportunity

Risk Level Medium

Tips -

GBPNZD Trade Setup & Forecast for the week 10th Feb, 2014

Daily Chart

Hourly Chart

This is a Cypher pattern which I were monitoring last week , but not posted on my blog because its not a pair I normally trade. However, it had penetrated the 78.6 level on the D, but due to the smaller time frame price action, it had shown me some bullish momentum for me to take a punt on longs towards the minimum B level for a 1:1 and potential upwards to new highs.

Outlook Trade opportunity

Risk Level - na

Tips -