Nirvana! Forex

2022-02-20 17:00:32 GBPNZD | Perspective for the new week
https://www.tradingview.com/x/kEM7dEui/

The GBPNZD pair seems to be on the edge of a cliff and it appears to be on the verge of tumbling down into 50 to 78.6% retracement in anticipation of a bullish trend continuation. How do we take advantage of this counter-trend opportunity without getting our fingers burnt?

Tendency: Downtrend ( Bearish )
Structure: Supply & Demand | Trendline | Reversal pattern ( Double Top )
Observation: i. Since November 2021, the Pound recorded approximately 9% growth against the Kiwi to set the tone for bullish momentum.
ii. The visual representation of a line drawn under pivot lows reveals the prevailing direction and speed of price action in the last 3 months.
iii. However, multiple rejections of N$2. 05 since January 28th signals the possibility of price action transposing into a correction phase that might dip into 50 to 78.6% retracement before the rally continues.
iv. The multiple rejections at N$2. 05 evolves into a double top look-alike which is an extremely bearish technical reversal pattern that forms after action tests a new high two consecutive times with a moderate decline between the two highs with confirmation of structure at a break below a support level at N$2.025.
iv. Coupled with the reversal pattern, we also witnessed a breakdown of the bullish trendline during last week trading session to give credibility to my bearish bias.
v. In this regard, below the key level at $N2.025 remains a comfortable area to take on a short position as I strongly anticipate a breakdown/retest of this level in the coming week(s)... Trade consciously!
Trading plan: SELL confirmation with a minimum potential profit of 500 pips.
Risk/Reward: 1:4
Potential Duration: 7 to 20 days

NB: This speculation may be considered to make individual decisions on lower timeframe.

Watch this space @nirvanaforex for updates as price action is been monitored.
#GBPNZD

Disclaimer: https://t.me/nirvanaforex/1044

@nirvanaforex
...we do not chase the market; we wait for the market to send us her signal and we follow! Open / Comment

2022-02-20 16:32:05 AUDUSD | Perspective for the new week
https://www.tradingview.com/x/9WxOCXex/

This will be my first long term perspective on this pair as I have waited a whole 2 months to identify a double bottom structure within a strong demand zone that has held price "supported" since July 2020! The strong memory for buying tendency at $0.7000 is a clue for an opportunity to buy the Aussie in the coming week(s). The Aussie advanced for a third consecutive week and is currently trading at around the $0.717 area - my key level, as lack of demand for the USD looms despite the dismal ruling mood.

Tendency: Uptrend ( Bullish )
Structure: Supply & Demand | Trendline | Reversal pattern ( Double Bottom )
Observation: i. From the weekly perspective, it is obvious that the Aussie has been on a decline (12.63% drop) since February last year.
ii. And the price is back to the $0.7 area two consecutive times (December 2021 and January 2022) resulting in the appearance of a double bottom structure in a zone that has a strong memory for buying power.
iii. The double bottom pattern is a technical analysis charting pattern that describes a potential change in trend and a momentum reversal from prior leading price action which has lasted for a whole year.
iv. Even as we await a confirmation which will happen if the price break above the resistance level which is the neckline at $0.72750; Above the key level at $0.71700 remains a comfortable area to take advantage of the bullish bias identified with an opportunity to add to our exiting position at a breakout/retest of the bearish trendline .
CAUTION: Considering the long term bearish momentum on this chart, it is advisable that we remain conscious with our positions as any break below the demand zone at $0.7 will negate the bullish narrative... Trade consciously!
Trading plan: BUY confirmation with a minimum potential profit of 350 pips.
Risk/Reward: 1:4
Potential Duration: 15 to 25days

NB: This speculation may be considered to make individual decisions on lower timeframe.

Watch this space @nirvanaforex for updates as price action is been monitored.
#AUDUSD

Disclaimer: https://t.me/nirvanaforex/1044

@nirvanaforex
...we do not chase the market; we wait for the market to send us her signal and we follow! Open / Comment

2022-02-20 16:03:28 GBPJPY | Perspective for the new week | follow-up details
https://www.tradingview.com/x/wnDTZTKu/

The price moved exactly 400pips in our direction since my last publication (see link here https://www.tradingview.com/chart/GBPJPY/EjkFPQXq-GBPJPY-Perspective-for-the-new-week/ for reference purposes) to set the tone for bearish momentum. In the last week, and with the appearance of a double top pattern; the Pound appears to have found the crucial resistance at JY158 to incite a second downward spiral. The JY158 area already stopped buyers in October 2021 and January 2022. The JY157 area also stopped buyers during the course of last week trading session to signal a bearish momentum.

Tendency: Downtrend ( Bearish )
Structure: Breakdown | Supply & Demand | Trendline | Reversal pattern ( Double Bottom ) | Descending Channel
Observation: i. Despite an overall bullish momentum on this pair (see weekly time frame); the JY157 area has been resisting price action since October 2021 to reveal a bearish tendency at this juncture in the market.
ii. Since testing the JY158 area on the 10th of February 2022, price action has continued to find lower highs which culminated in a breakdown of Key level (JY156.450) at the beginning of last week trading session.
iii. This development gave rise to multiple rejections of the JY157 area to make this area our new supply zone for future selling opportunities.
iv. It is important that we put into consideration that the multiple rejections of the JY157 area share a confluence with the bearish trendline that has been guiding price action since the 10th of February 2022.
v. In this regard, I shall be looking to take a sell position below the key level identified at JY156.450 with an opportunity to add to my existing position at a breakdown/retest of the JY155.450 area in the coming week(s).
vi. Mind you, the early hours/days of the new week might see a price climb to test our new supply zone around the JY157 area to incite further decline... Trade consciously!
Trading plan: SELL confirmation with a minimum potential profit of 200 pips.
Risk/Reward: 1:4
Potential Duration: 3 to 7days

NB: This speculation may be considered to make individual decisions on lower timeframe.

Watch this space @nirvanaforex for updates as price action is been monitored.
#GBPJPY

Disclaimer: https://t.me/nirvanaforex/1044

@nirvanaforex
...we do not chase the market; we wait for the market to send us her signal and we follow! Open / Comment

2022-02-20 13:59:31 Good Morning Everyone!

Attached here-with is our signal performance (Nirvana! Lite and Freedom bouquet) for the week (14th -18th of February 2022). We closed the week with a total of 965pips across board.

Feel free to contact @Huzzylady on Telegram for inquiries.

Happy Sunday!

NB: (R) means Re-entry Open / Comment

2022-02-18 11:17:41 Open / Comment

2022-02-17 11:11:00 #GBPUSD LEVEL UPDATE

Observation: TP1
Profit: 53 pips

Contact @Huzzylady for details Open / Comment

2022-02-17 11:10:16 #GBPNZD LEVEL UPDATE

Observation: Passed TP1
Profit: 95 pips

Contact @Huzzylady for details Open / Comment

2022-02-17 11:09:19 #NZDUSD LEVEL UPDATE

Observation: TP2
Profit: 70 pips

Contact @Huzzylady for details Open / Comment

2022-02-17 11:08:32 #XAUUSD LEVEL UPDATE

Observation: Passed TP1
Profit: 1,800 pips

Contact @Huzzylady for details Open / Comment

2022-02-17 11:07:26 Open / Comment