Long GBPNZD Long

British Pound/New Zealand DollarFXCM

Description

⋅ Mar 30, 2015 8:47 PM

Several factors favour longs for GBPNZD :

-Series of higher lows
-Identified demand zone
-Hammer candlestick
-Ascending channel
-Above 200 Weekly average

Keep stop below 1.955, so it might not suitable for short term traders

GBPNZD

Comments

Realisto_FX

⋅ Apr 1, 2015 9:06 AM

UPDATE : I booked partial profits and I´m still on the trade with stop moved to 1.98

danndc

⋅ Apr 1, 2015 11:39 AM

i booked more than 200 pips profit and i am out cause i think it gave signs of reversing or at least retreacing in h1 and i think it will in h4

now i will look to reenter once GBPAUD reaches the 1.91 area cause i think GBPNZD is following that pair

Realisto_FX

⋅ Apr 1, 2015 11:46 AM

congrats, well done !

danndc

⋅ Apr 1, 2015 11:49 AM

to you too for your profit

Nightwish

⋅ Apr 1, 2015 5:04 AM

agree, long for a while tradingview.com/v/WrAr5WeH/

Realisto_FX

⋅ Apr 1, 2015 5:06 AM

Great thanks !

danndc

⋅ Mar 31, 2015 7:50 PM

what is your target? i am in this trade too

Realisto_FX

⋅ Mar 31, 2015 8:01 PM

I expect some resistance around 2.00 as first target, then reduce exposure, and leave it open with stop at break even . If it breaks above 2.005 with conviction, we could see a good uptrend that will last a few weeks. Good luck mate