FX:GBPNZD   British Pound/New Zealand Dollar
661 12 36
6 months ago
GBPNZD             is moving into a rising channel better seen at a higher timeframe. I has bounced from its upper parallel moved down sharply and it's now consolidating. We should watch for a breakout below the consolidation and sell GBPNZD             aiming the lower trendline of the channel.

Rising channel
snapshot


P.S: Take a minute and read my post of "1001 pips project". You may find the link below..
6 months ago
Comment: Price broke below the corrective structure...
6 months ago
Comment: Simple, clean patterns work wonders, just like this one..
6 months ago
Comment: Price has broken belowe the channel.. For those who are still in this trade, we should wait for a pullback probably to the lower bond of the broken channel and then price could drop once more.. Manage this trade wisely to make this setup a big one..!
6 months ago
Comment: No fancy setups needed in order to be profitable in the markets.. This simple channel has given as profits to recover from 15 losing trades..!
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sbeavis PRO
6 months ago
Doing really well - thank you!
Reply
Fxprotrader PRO sbeavis
6 months ago
You are welcome sbeavis..! I hope you are in with this one..!
+1 Reply
sbeavis PRO Fxprotrader
6 months ago
I bought 2 lots about 5 hours ago, so feeling pretty happy so far. Can I ask what you are setting as a profit target?
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Fxprotrader PRO sbeavis
6 months ago
Well it depends where you placed your stoploss. but based on steructure price may reach the lower bond of the channel. Otherwise aim for as much as the impulse previous to the correction
+1 Reply
Fxprotrader PRO sbeavis
6 months ago
What a great trade that was for you mate..!
+1 Reply
sbeavis PRO Fxprotrader
6 months ago
Yes thanks very much indeed! Have taken profit but still have one lot as thought it might keep going... Cheers Sean
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hhc PRO
6 months ago
Great Trade, one question, it is ok, to go Long when price touch channel bottom? or there is any chance that it breaks down below the channel?
Reply
Fxprotrader PRO hhc
6 months ago
No without a buy setup completed..
+1 Reply
tonz_of_gunz
6 months ago
Perfect trade! Congrats!
Reply
Fxprotrader PRO tonz_of_gunz
6 months ago
Thank you very much..!
+1 Reply
Hiisham
6 months ago
he broke a up 4H trend i think he will retest it and come back to 50 % fibo
Reply
Fxprotrader PRO Hiisham
6 months ago
It will probably retrace a little and then back on it's way (south)
+1 Reply
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