VasilyTrader

GBPNZD: How to Catch a Pullback???

Long
FX:GBPNZD   British Pound / New Zealand Dollar

GBPNZD was steadily going down within a falling channel last week.
yesterday 1.913 - 1.917 narrow demand area was reached.

the price has stopped falling and with multiple rejections, bears weren't able to breakthrough.

now it is bulls' turn to try:
if bulls violate this area to the upside, it will confirm the breakout of a falling channel and for us, it will be a good buying signal.

wait for the 4H breakout of the decision area and buy on retest aiming at:
1.924
1.928


in case of a bearish violation of the decision area, it will be a selling signal, and our setup will be invalid.

Comments

Thank you for posting!
+2 Reply
VasilyTrader MichaelWood81
@MichaelWood81, you are welcome bro!!!
+1 Reply
Will the market retrace?
what is your view?
+2 Reply
Another opportunity to get in
Reply
Very good
Reply
VasilyTrader ProTraderNataliaRUS
@ProTraderNataliaRUS, thank you 😊
Reply
Already on profit
Thanks bro
Reply
VasilyTrader 2b1d83a7071a4dfb85a2e22d522a69
@2b1d83a7071a4dfb85a2e22d522a69, You are welcome bro!
Reply
VasilyTrader simtrader19a
@simtrader19a, good outlook!
Reply