moneymaking
Long

GBPNZD: BAT PATTERN (60 MIN) !!

FX:GBPNZD   British Pound/New Zealand Dollar
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 FX: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 :)
with trend trade. nice.
+1 Reply
moneymaking PriceActionTrading
a year ago
Hey mate, yes setups with the overall trend, have really good winning percentage. We need to see a shift from short term bearish to bullish trend BEFORE considering to go long on this :)
Reply
TahirAli
a year ago
Hi moneymaking,I already got my eyes on this pair.Its nice to see you came out with the same idea.
+1 Reply
moneymaking TahirAli
a year ago
Hey Tahir, Thank you mate :)
Reply
moneymaking
a year ago
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.
Reply
moneymaking
a year ago
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.
Reply
moneymaking
a year ago
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.
Reply
TahirAli moneymaking
a year ago
Hi moneymaking,I am still in the trade as my sl didn't get hit but I didn't make any pips out of this trade either so lets see which way it goes.
Reply
moneymaking TahirAli
a year ago
Hey Tahir, yes, according to my analysis, market is struggling to go lower. Make sure to close your trade BEFORE tomorrow's Federal funds rate news. Don't need to take unnecessary risk. All the BEST mate :)
+1 Reply
TahirAli moneymaking
a year ago
Thanks for the heads up friend.I will surely do that.
Reply
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