GBP/NZD Reversal Pattern Confirmed , Long Setup To Get 150 Pips

Sep 1

Here Is My 4H Chart On GBP/NZD , As we see we have a very clear reversal pattern ( double bottom ) after this massive movement to downside without any correction we need a clear pattern like this to be sure that the direction will be changed and that`s very clear in our case , we have a pattern created at very strong support and then the neckline broke by a very big bullish price action and also gray area on the chart also is a very strong support area so we have multiple confirmations prove that the price will go up a little for the next few days / weeks , i`m waiting the price to go back a little to retest the broken neckline and support and then we can enter a buy trade and targeting from 60:150 pips by using a decent stop loss , if we have a daily closure below our neckline then this idea will not be valid anymore .

Entry Reasons :

- Double Bottom Reversal Pattern
- Pattern Confirmed
- Strong Support
- Bullish P.A

Sep 1

Trade active

The Price Touched Our Buying Area And Moved +35 Pips

Sep 2

Trade closed: target reached

The Price Touched Our Buying Area And Reached The Max Target + 330 Pips