GBPNZD has been inside a massive correction for several months now - the anticipated break has been to the upside - but it has failed to produce a desirable close to confirm that conviction several times already, instead opting to continue the correction.
We are finding ourselves once again on the brink of this important move....
Rule Number One: Be Patient. This trade (no matter which direction it chooses) will be more than just a few short hours of directional trading. It will produce several days, if not weeks worth. I am showing the 4 hour chart for this post, but I will be taking my trade off of the , a confirmed daily close outside of either boundary.
Rule Number Two: Big Picture is Key. Here you can see the - what started as a has slowly but very surely instead taken the shape of a Descending . Ultimate direction of buy is *almost* certain, however we should see another sell rally, keep an eye on the lower support of the should price make it there.
This will easily be the trade of the month, once we get that necessary confirmation - be patient and keep an eye on which direction it chooses.
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