GBPNZD Selling before buying

FX:GBPNZD   British Pound / New Zealand Dollar
59 4 7
Expecting the price to bounce off the trend line and continue downwards.
Not sure how far down exactly, but it can go down pretty far before coming up again - probably breaking out of the downtrend to go up. This is where I am willing to buy the breakout.
You mean buying before selling?
+1 Reply
LolliPip AndreLear
No, I am not buying the little piece to the upside. I will use that up move to confirm my forecast for the move down.
And when it is finished moving down, then I will be looking for a buy.
+1 Reply
LolliPip AndreLear
If I wanted that little buy, I should've gotten in around 2.24252
+1 Reply
AndreLear LolliPip
I was looking for a .618 retracement on this. In looking through the history however, in big moves like this one, this pair is most likely to only retrace to the .382 before continuing. I'm going to join you on this short when we have confirmation of the loss in upwards momentum.
+1 Reply
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