mleader1

a simple although risky long setup

Long
GBPNZD has experienced drama downfall in the past few days, I expect a correction needed in the current falling wedge alike channel.

it attempted to reach 1.9487 and bounced back up in multiple occasions in the past few hours, which make it a valid support considering it was also strong demand area in the past.

SL: below 1.9487

TP: fib based

RISKY. and I only put a small lot size in. You can consider a lower SL if you believe price will go higher instead of falling further.

GL
Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.