GBPNZD-some retracement needed
After a strong decline this pair is about to make a correction.
My main tool here is the bollinger band to band on D1 chart. We have also the 0.8860 fib retracement neart the zone:
This tecnique works in confluence with a divergence and S/R on lower TF, in this case H4 chart.
We have:
- Round level 2.3000 as support
- Strong divergence on AO (or MACD)
- False breakout
This is a counter-trend trade so be careful and always do your own analysis and plan.
Best regards.
My main tool here is the bollinger band to band on D1 chart. We have also the 0.8860 fib retracement neart the zone:
This tecnique works in confluence with a divergence and S/R on lower TF, in this case H4 chart.
We have:
- Round level 2.3000 as support
- Strong divergence on AO (or MACD)
- False breakout
This is a counter-trend trade so be careful and always do your own analysis and plan.
Best regards.
Trade closed: stop reached