PriceActionTrading
Long

D1 GBPNZD Playing the wedge

FX:GBPNZD   British Pound/New Zealand Dollar
38 1 1
2 confluence already aligned. wedge support line and key 1.97 support line.
wait for a 3rd confluence which is a bullish pin bar or a bullish engulfing pattern formed on the H4 or D1(preferably).
This is a with-trend trade, however with the weakening of GBPUSD             and GBPJPY             . Hard to say if the up trend will continue.
I personally will take this trade if H4 proves some pin bar/engulfing actions.
No H4 price action worthy of trading. price broke right through the wedge as expected due to the weakening of GBP, as with other GBP pairs.
Reply
Ideas Scripts Chart
United States
United Kingdom
India
España
Italia
Brasil
Россия
Türkiye
日本
한국
Home Stock Screener Economic Calendar How It Works Chart Features House Rules Moderators For the WEB Widgets Stock Charting Library Priority Support Feature Request Blog & News FAQ Help & Wiki Twitter
Private Messages Chat Ideas Published Followers Following Priority Support Public Profile Profile Settings Billing Sign Out