Hi guys,
GBPNZD pair seems to be trading in a range. And what we can see from here is that it fails to hit the bottom of the range. Or rather it seems like it is trying hard to get there.
What can we take from this?
2 Failed attemps to go hit the bottom of the range signals a good BUY signal. What i predict will be it to shoot up towards the top of the range (Price level 2.3xx)
A good entry will be at the breakout of the trendline resistance.
This will take awhile as we are looking at about a 500pip TP with a 200pip SL, risk reward over 2.5.
Please manage risk and comment if you have any ideas or suggestions.
GBPNZD pair seems to be trading in a range. And what we can see from here is that it fails to hit the bottom of the range. Or rather it seems like it is trying hard to get there.
What can we take from this?
2 Failed attemps to go hit the bottom of the range signals a good BUY signal. What i predict will be it to shoot up towards the top of the range (Price level 2.3xx)
A good entry will be at the breakout of the trendline resistance.
This will take awhile as we are looking at about a 500pip TP with a 200pip SL, risk reward over 2.5.
Please manage risk and comment if you have any ideas or suggestions.
