Erfan.Parvini
Long

Didn't get that 1100+ pip move?! Here might be another one!

FX:GBPNZD   British Pound/New Zealand Dollar
2228 20 28
So I posted the short setup on GBP/NZD 26 days ago, which I have it linked down here as well, and I did end up shorting the market at 2.27380, shooting for the ABCD completion, and I closed the position just yesterday at 2.15697 with 1100+ pips of profit. However, we are now at a potential reversal zone, and we are likely to get at least a retracement back up to our previous structure level. We have the cluster of fib retracement, extension, and inversion. Our ABCD is completed, we have a tiny but valid divergence on RSI , and there is a minor structure resistance level as well.As far as R-R ratio, we have a ratio about 3 to 1 and in my opinion it is a reasonable long opportunity, and I hope it turns out profitable. Happy New Year and good luck my fellow traders!!
Trade closed: target reached: Target 1 hit: 790+ Pips
First target done :)
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Erfan.Parvini pathaniasourabh
Yeap! Target one was just hit about an hour ago :) Thumbs Up!
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pathaniasourabh Erfan.Parvini
Hats off!!!!!!
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Erfan.Parvini pathaniasourabh
yeap! 790 pips banked :)
+1 Reply
And being realistic, with all due respect, it might not?
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That's true for all trading ideas.
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Erfan.Parvini IvanLabrie
Oh absolutely, we are dealing with probabilities here! You could just wake up and see lower low, lower close. Then you should wipe you chart and start all over again! :-)
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marcus123 Erfan.Parvini
absolutely; and well done on your big win!
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marcus123 IvanLabrie
yep!
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Same idea, similar to GBPCAD 8 or 9 months ago, break from the base, rally, retest and continuation leg, great analysis!

GBP/NZD Potential Long Continuation Setup
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