Daniel.B

Monitoring for bullish signals

FX:GBPNZD   British Pound/New Zealand Dollar
256 47 5
Update: Trade nearing entry requirements. Targets have been outlined, and my stops have been outlined on the 4hr chart posted in the comments section. Upon reaching target 1 stops will be moved to break even and managed accordingly as price makes its way to the secondary and third target. Good luck everybody, may the force be with you.. Lolol =)

Well this should be a very nice trade if the range it has been confined within holds true! I've been monitoring this pair for a couple weeks now with a few small intra-day trades placed on the way down. What I'm looking for is any sign of range reversal between the .50 / .618 Fibonacci Levels. In which I will ride it to the upper band of the range, once price reaches the Fibonacci levels I will post another chart on the pair in the lower time frames (Daily / 4hr). For now I'm just sitting on the sidelines for this one and monitoring it closely. =)

Well the stops being trailed were triggered.. Anyhow this was a good trade will be standing aside and monitoring price action to determine any further positions