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Roker1
Apr 5, 2018 9:06 AM

Long setup on GBPNZD Long

British Pound/New Zealand DollarFXCM

Description

Hi guys,

on the higher timeframes, like the daily, this pair is in an uptrend, because it broke to the upside the most recent resistance (upper black line). Now, until we broke a support to the downside, the trend will be considered bullish. Therefore, it makes sense to look for trading opportunities on lower timeframes, when we see there's higher timeframe structure looking left. Here we have a double bottom with RSI divergence and an engulfing on the 4H chart.
Entry at market, stops and targets as shown.

If you have any idea/question, feel free to comment below.
Otherwise, see you in the next chart!

Trade closed: target reached

After going through some pain, first target hit:
Comments
salmanijaz
Very nice idea ... specially the SL is working to perfection :)
Roker1
@salmanijaz, don't tell that too loud :) we'll see, the break of structure to the downside is not a good sign anyway
salmanijaz
@Roker1, I agree ... but anyways the idea is solid ... these things happens .... :)
Roker1
@salmanijaz, thanks!
cemistad
SL
Roker1
@cemistad, la linea rossa non è stata toccata, come puoi vedere dal grafico
Roker1
@cemistad, red line was not touched as you can see from the chart
UnknownUnicorn1767944
What colour is the line to enter the trade
Roker1
@Manetrade, i've entered on the blue line
UnknownUnicorn1767944
@Roker1, thx. Just wanted to know ive been follow you for 2 months and i like how you trade and technical analysis.
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