Feel free to take a look back on my GBPNZD analyses over the last several weeks/months, you know that I've had my eyes on a that we've been trading in. This if/when broken signifies a continuation on a much larger scale (daily/weekly). It's something we have not been able to confirm but we are very close.
This past week, GBPNZD saw a fall back to the 2.15 level before rising almost 400 pips to finish the week off. I've posted the 4 hour chart here to look at possible ways for us to reach the upper .
However, here are the Daily and Weekly charts to give you a little more perspective.
On the you can see the potential . What better place to start a continuation than from a . Remember though if you trade this pattern, that it's actual trade comes from a break of the peak between the two, in this case almost 2.25. My entry will occur long before this.
On the Weekly Chart we see a nice long wick with an ever so slightly body. A break of the key technical resistance could bring a massive rise this next week.
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Anything could happen. This pair moves 200 to 300 pips in one day, if you are not day-trading this thing, then a stop could be as wide as 400 pips. So, got to be careful with managing this risk in case we are all wrong, even with the good odds.