[the crossroads] Bearlish bat in GBP/NZD or triangle breakout

١٣ أكتوبر ٢٠١٧

From the chart, the price is now at the crossroads, it's also a prefect example for technical analysis.

*It has already formed a bearlish bat from 2016.07-2016.05, and successfully reached the target price; Now, the D-point is converted to X point and form a bearlish bat again with the potential reversal zone made by 2.24BC and 0.886 XA.

*There is also a decline trend line above the PRZ zone

*But if you add up the uptrend line and you will see a triangle, the price also runs about 2/3 of the triangle, and the possibility of an upward breakthrough is increased.
The RSI index diverts again

*I will continue to observe it. If I tarde on the wrong direction and fail, I will seekthe opportunities that I have made in GBP/JPY (cn.tradingview.com/chart/GBPJPY/otZgkXPV-A-good-opportunity-buy-GBP-JPY/)