GBPNZD Short Intraday Trade Idea SELL LIMIT

FX:GBPNZD   British Pound / New Zealand Dollar

GBPNZD has been respecting the ascending 2018 trendline very much this year and this month will be no different.

Price has reacted to the daily supply zone and sellers have come into the market aggressively. We can tie in NZD interest rate decision later on tonight with it

What I can say is that tonight, we will be have positive NZD reaction from their rate decision later on tonight.

However, this move will only lead to buyers coming back into the market aggressively.

I suspect, price will fall right to our demand zone and overextend itself before rising again.

Retail sellers will be trapped at that point so we will keep our TP nice and crisp and put SL in profit once up 20 pips.

If you wish to learn more about supply and demand and/or fundamental analysis , message me on trading view at any time or message me on Telegram: https://t.me/tradingwricky
I give more trade ideas, signals and opportunities with my students.


Sell Limit @ 1.98734
SL: ~40 pips
TP: ~400 pips

R:R: ~1:9

I will be following up with the Long SWING TRADE IDEA next

Stay safe!

Remember trading involves risk and you should always exercise proper risk management and risk ONLY money that you can afford to lose

Take care beloved!
Trade closed: stop reached: Trade had hit SL -40 pips. We got the right direction though. We will get it back another time
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