UPDATE #3: Hey guys, our break even stop loss has been hit and all positions are now CLOSED for this pair. Currently market is showing NO signs of possible shift in trend to the upside. I'll keep you guys updated when a good opportunity to go LONG arrives. Remember that the major trend is still BULLISH, so the highest probability trades will be in that direction.
UPDATE #2: Hi everyone, I just wanted to let you guys know that I will be adding onto my current long position if we get a good conformation from price action.
UPDATE #1: Whaoo Traders, I actually thought I might get stopped out on this setup BUT lucky that did not happen. We got out 1st target hit and now stops moved to break even.
Hello Traders,
Here we've a BULLISH BAT PATTERN on
GBPNZD
that is close to the completion point. This pair is in a very strong uptrend and this setup might allow us to enter in the direction of major uptrend. Do note that market is currently forming LL and LH, signalling a possible CONTINUATION of the short term downtrend BEFORE going higher.
If the entry is NOT triggered BEFORE the 4:30 AM news than I will NOT have any positions open for this pair.
NOTE: Keep in mind that we have Prelim GDP q/q news coming out of UK at 4:30 AM.
Please feel free to AGREE or DISAGREE with this idea by leaving a comment below. Hit that thumbs up button (top left corner of this chart) if you like the idea. Good Luck :)
UPDATE #2: Hi everyone, I just wanted to let you guys know that I will be adding onto my current long position if we get a good conformation from price action.
UPDATE #1: Whaoo Traders, I actually thought I might get stopped out on this setup BUT lucky that did not happen. We got out 1st target hit and now stops moved to break even.
Hello Traders,
Here we've a BULLISH BAT PATTERN on
GBPNZD
that is close to the completion point. This pair is in a very strong uptrend and this setup might allow us to enter in the direction of major uptrend. Do note that market is currently forming LL and LH, signalling a possible CONTINUATION of the short term downtrend BEFORE going higher. If the entry is NOT triggered BEFORE the 4:30 AM news than I will NOT have any positions open for this pair.
NOTE: Keep in mind that we have Prelim GDP q/q news coming out of UK at 4:30 AM.
Please feel free to AGREE or DISAGREE with this idea by leaving a comment below. Hit that thumbs up button (top left corner of this chart) if you like the idea. Good Luck :)