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Jul 10, 2016 7:15 AM

GBPNZD Long Long

British Pound/New Zealand DollarFXCM

Description

This confluence is really surprising here. We've got so many variations of support with price action majorly oversold.

1. Major Monthly Support Line
2. Reaction Line 2 based off red pitchfork line
3. Lower Median line from an Action Reaction Multi Pivot Line
4. Warning Line 2 support from Red Pitchfork

Now Price Action show major liquidation spike, followed by pause at WL 1 and a less powerful second leg into all these support zones.

I'm looking for a strong spike rally to at least 1.8847 possibly following the same angle as reaction line 2

Stop Loss is virtually nothing great R/R. I'll be buying here.
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