gbpnzd battle station price action signal alert

Got some big moves on the charts for a Monday session, leaving behind some beefy daily candles.

This looks like it’s mostly because of a strong mean reversion on the USD.

Reviewing the pattern alerts from my Battle Station chart scanner, I noticed an outside candle reversal pattern alert on the GBPNZD 6 hour.

Following up on that, and checking out the situation on the chart, I first noticed it was sitting within a very bearish environment, but I did have level marked there.

Usually I only mark levels on my chart which are significant on the daily / weekly. This is what the level looks like on the weekly…

Weekly view on the gbpnzd signal

So the weekly level is there, I marked out why I think it is worth paying attention to.

We’ve gotten decent bounces off the level in the past, not huge but decent enough for a 4x reward trade.

The 6 hour outside candle is an early warning signal that a bounce is occurring off the support level, and a nice opportunity to frame a price action trade around.

If the signal follows through there should be some decent upside.

Best of luck on the charts.

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