erikarter

Possible Long Setup on GBP/NZD

Long
FX:GBPNZD   British Pound / New Zealand Dollar
Multiple confluent signals.

- Butterfly Advanced Pattern (not my favourite but it's an AB=CD pattern)
- 1,27 fib inversion
- 61,8 fib retracement
- Support (blue zone, look left for multiple times that price action react to that level.
- RSI oversold and divergence
Comment: I'm waiting for some time of consolidation between the two orange lines, forming a possible a falling wedge pattern. Price will test the support before finally break to the up side.

Safe zone for Stop-loss under the 1.8600 price and support.

Order cancelled: Do not trigger my order.