Hi traders:
We have a long opportunity on GBPNZD, as the price action has been in an over extended daily run to the down side, now rejecting support. On the 4 hr chart we have a falling wedge, and price action broke out of it.
Now we can wait for a higher low to develop, confirming a trend change on the 4 hr, and a daily pullback to roughly 1.7900/
TP 1: 1.7725
TP 2: 1.7900
Thank you for your support and feedback.
We have a long opportunity on GBPNZD, as the price action has been in an over extended daily run to the down side, now rejecting support. On the 4 hr chart we have a falling wedge, and price action broke out of it.
Now we can wait for a higher low to develop, confirming a trend change on the 4 hr, and a daily pullback to roughly 1.7900/
TP 1: 1.7725
TP 2: 1.7900
Thank you for your support and feedback.
Note
Here is the daily chart Trade closed: target reached
TP1 hit for 2.29% profitTrade closed: target reached
2nd TP hit
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Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.