GBPNZD

I am also waiting for the monthly candle to close so as to be able to get a clearer view of the direction for the days ahead. Forex is a game of patience, we will wait patiently for it.

The monthly timeframe is showing us a breakout to the downside. The breakout candle was an engulfing bearish candle to signify a bearish movement. I am particular about selling this pair this month.

We will definitely see some buys to the breakout level on monthly but i am more interested in the sells.

The weekly timeframe is also in alignment with the bearish bias.

GBP/NZD is defiitely looking bearish

Selling opportunities will arise when the current candle turns bearish.

Exactly

Today, i will be looking at selling GBPNZD. Why?

On the daily timeframe we have a breakout to the downside. A breakout to the downside signifies a sell. Well, I won't be selling directly on the daily timeframe, i will wait for confirmation on the 4hr timeframes.

On the 4hrs timeframe, i am waiting for price to sweep the Asian session as liquidity (My Asian session is the candle marked in the image posted). The Asian session will be swept and the candle will close with a candle rejection. If this happens, then i can go to lower timeframe to get an entry.

Just for clarity, this is the 1- day chart, cos your screenshot is too zoomed in. Basically from looking at the chart its easy to see the market is in a down trend so selling is the way to go.

Yes, you are right .

MY BIAS

THERE WAS A BREAKOUT TO THE UPSIDE ON THE DAILY TIMEFRAME WHICH SIGNIFIES A BUY.

ON THE 4HRS TIMEFRAME, I AM WAITING FOR THE ASIAN SESSION LIQUIDITY TO BE SWEPT. AFTERWARDS, I WILL WAIT FOR CANDLE REJECTION AND CLOSURE ON 4HR. THEN I CAN GO TO LOWER TIMEFRAME FOR CONFIRMATION.

THIS PAIR IS BEARISH ON BOTH MONTHLY AND WEEKLY TIMEFRANE. HERE DAILY IS ALSO BEARISH BY GIVING US A BREAKOUT TO THE DOWNSIDE. WE HAVE A LIQUIDITY AFTER THE BREAKOUT, WAITING FOR PRICE TO SWEEP LIQUIDITY BEFORE LOOKING FOR SELLS.