FX:GBPNZD British Pound/New Zealand Dollar
On the I have an .86 pullback. The market is creating a sub up AB swing at a previous low. This is low enough for me. I see the Daily D extension at 1.8402, so whereas I have had excellent selling on this pair this year, I will look to buy the pullback. Recommendations for this entry are to form a pattern and enter on the one hour with the stop no more than 25%-30% of the overall pips we are looking to make. In this case, that is over 600 pips away. If you cannot risk that, break the blue line, pullback and place the stop ten pips below the uturn, risking roughly 50 pips. First targets will go in at 1.8190, second target at 1.8402. Thanks!
Comment: Happy Fall!!
Trade active: Ok! I have pulled off 180 pips and I am break even on the rest of these. Happy Trading is the way we do it!! XO
Trade closed manually: Ok I pulled one for 100 another one for 200 and am off at the slightly higher than break even stop point. Remember that what the market does on Monday is that it normally indicates direction and then returns to where it opened on Sunday. Currently watching this and pound aussie for more of a signal. I believe these are pullbacks and I am looking for the bull formation. Will let you know when I am back on. Thanks!
Trade active: We are well on our way and have achieved the break of the trendline. I am running this from 17796. One off and break even. Let's push this banks... I want 18402 but it's not running very fast.