TomHall

GBP.NZD - British Pound / New Zealand Dollar - Market Trap

FX:GBPNZD   British Pound / New Zealand Dollar
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.
Comment: A perfect example as to why it's paramount you identify traps on the 4hr timeframe.
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.
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.
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