FX:GBPNZD   British Pound/New Zealand Dollar
26 0 1
6 months ago
The weekly long-term GMMA (orange) for this pair has very recently made a bearish cross after a long period of compression. During this period, the weekly short-term GMMA (blue) has been pointing down and the group of blue EMA's have been well spread, only showing periods of weak compression. This information indicates that there is a high likelihood that a new bearish trend for this pair is in place. Meanwhile, price has been moving upwards in a corrective move in what is likely to be new bearish trend , providing a good opportunity to join the train. The Stochastic indicator show a bearish divergence. i.e. price made a higher high, but stoch failed to do so. In turn the RSI seems to had broken a upwards trend line (black line in RSI plot), although price have not done the same yet.

Order 1:
Entered @ 2.1158
SL @ 2.1735 ( a little above the weekly long-term GMMA (orange))
TG @ 2
Trade management: boxes in units of risk-to-reward ration


Order 2:
Entered @ 2.1158 ( a little above the weekly long-term GMMA (orange))
SL @ 2.1735
Tg @ open downside level
Trade management: boxes in units of risk-to-reward ration. Stoploss is moved to break-even as soon as Order 1 hits the corresponding target level.

Lets see what happens!

Happy trading all!
6 months ago
Trade closed: stop reached
Ideas Scripts Chart
United States
United Kingdom
India
España
Italia
Brasil
Россия
Türkiye
日本
한국
Home Stock Screener Economic Calendar How It Works Chart Features House Rules Moderators For the WEB Widgets Stock Charting Library Priority Support Feature Request Blog & News FAQ Help & Wiki Twitter
Private Messages Chat Ideas Published Followers Following Priority Support Public Profile Profile Settings Billing Sign Out