dewdew91
Long

GBPNZD Monthly support

FX:GBPNZD   British Pound / New Zealand Dollar
44 0 1
The pair is in a falling channel coming it monthly support that I believe will hold. There two scenarios I am looking for:

1. Break of the channel to the upside and a retest to get long.

2. The monthly support is broken and buyers soak up the price forming a pin bar/hammer. 1.75 is a nice hard number to see this happen at.



Happy trading...
Comment: Channel is broken, waiting for this 4 hour bar to close as a pin bar.
Trade active
Comment: In the money now. The pin bar formed right on the channel, followed by a nice strong buy candle. The 20ema is pointed upward now.
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