GBPNZD: Possible Long In The Making Using Basic Technique #Forex

FX:GBPNZD   British Pound / New Zealand Dollar
451 10 19

A POSSIBLE LONG... We need to see trading ABOVE 2.3520's for this trade to be instrumental to us. A close at this level and a new open on the daily would be even better.

Best of luck,

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hey..thx for sharing..i had the idea :-) here is my vire of the pair:
The break of the last valid "2" @ 2,3383 shooted the pair to its target @ 2,4045. Since this High was formed we can see a healthy consolidation. Till now this consolidation ended between the 38,2 and 0,5 fibo-retracement - exactly where the breakout level is based. Thats possibly a good basis for a new jump.
-Prices above 2,37 will trigger the triangle/flag This will generate a target on the upside @ TP1 2,4045 and above that level TP2 @ 2,47.
-Prices below the breakoutllevel @ 2,3383 the midterm trend chanel is hurt. That generates the risk that the price can drop to 2,26.

Former analysis:

If the pair can trade above the "2", the buyingsignal is active. TP= have a look @ the chart
+1 Reply
Stop it Tom, seriously, you're starting to spook me. :p
(my setup: oversold dip in uptrend, buying above that daily high haha)
The stop is a bit too wide for my taste, so I'll just trade the pair (long gbpusd, and short nzdusd with no SL).
+3 Reply
IvanLabrie IvanLabrie
+2 Reply
TomProTrader IvanLabrie
Even my stop loss is in the same place! This is so weird haha

+1 Reply
TomProTrader IvanLabrie
Sounds good
+1 Reply
Nice one mate, Market is starting to turn to the upside. All the BEST :)
+1 Reply
TomProTrader moneymaking
Thank you.
+1 Reply
Hey, random question, but what broker do you use?
good one tom ,was just talking to Ivan about this
+1 Reply
Thank you GcNaif :-)
+1 Reply
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