Hey guys, here on GBPNZD we're now testing a very important structure area; as you can see on the left hand side of your screen price has already found resistance in that area and it could now turn into support and push price higher. Given the case, i want to be involved on the long side of this pair, hoping for a continuation on the upside. Now, you can use different kind of entries: you can either buy right now (aggresive entry) or buy the breakout of the wedge that's forming right now (conservative entry). It depends on your risk appetite, in any case, stops below the lows, and if you're aggressive, target1 as displayed above, target2 to be determined (could be huge).
If you have questions, or if you want to share your idea, feel free to comment below. Otherwise, see you in the next chart!
Trade closed manually
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Out just a little below breakeven. UK elections are in sight.
Nice chart! How do you think general election will affect GBP?
Roker1
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@Foxinlondon, i don't know, but i'm going to exit anyway before the results come out, with my full position if in red, with half position if in green. Thanks for commenting!