TerryHarmonicTrading

GBPNZD - Bearish Shark Completion

Short
OANDA:GBPNZD   British Pound / New Zealand Dollar
I see a bearish shark completing on GBPNZD.

The PRZ is at 1.8680.

This is a nice setup.

1. Selling volume the last time it came to this level (Black)
2. Retest with pin bar

I will enter if the next hourly candle closes weak with above average vol.

EP: Around 1.8680
SL: 1.8730 (50)
TP: 1.84
Trade active:
Did not get in at the best price. 1.8640 was my entry.

Now in green for over 100 pips, covering my losses for the week.

TP very soon.

Who is with me?
Comment:
Heading to sleep with my sl shifted to break-even.

Uncomfortable with the big green bar I am seeing. Good luck all.
Comment:
I am not sure what happened to the overnight spreads. My SL at 1.8640 was hit when I was sleeping. Time to let this go and look for another trade idea. The take-away is always to take some profits off the table when it hits the XC 50% retracement. Lesson learned.
Order cancelled
Trade closed: stop reached:
I am not sure what happened to the overnight spreads. My SL at 1.8640 was hit when I was sleeping. Time to let this go and look for another trade idea. The take-away is always to take some profits off the table when it hits the XC 50% retracement. Lesson learned. Trade closed at breakeven.

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.