GBP.NZD - British Pound / New Zealand Dollar - Market Trap
Symbol: GBP.NZD - British Pound / New Zealand Dollar
Timeframe: Weekly, Daily and 4 hour
Predicted Direction: Neutral ( No Trade Opportunity )
GBP.NZD - British Pound / New Zealand Dollar updates will be available in the comments section below.
Additional Information:
Although a trade opportunity is not available based on my discretionary rules, I have distributed this post to show the filter process I use to identify market traps.
Timeframe: Weekly, Daily and 4 hour
Predicted Direction: Neutral ( No Trade Opportunity )
GBP.NZD - British Pound / New Zealand Dollar updates will be available in the comments section below.
Additional Information:
Although a trade opportunity is not available based on my discretionary rules, I have distributed this post to show the filter process I use to identify market traps.
Comment:
Similar to the GBP.AUD stop hunting process, trigger both long and short orders then quickly stop them out.
This is not a conspiracy about brokers, this is how retails traders also execute positions, understanding where the buyers and sellers have their positions set.
This is not a conspiracy about brokers, this is how retails traders also execute positions, understanding where the buyers and sellers have their positions set.
The pullback to the 50EMA (4hr) triggered majority of swing traders into a long position.
The Daily breakout was simply a consolidation on the intraday timeframes.