In #gbpnzd, we're looking at a buy idea. First off the pair has created a sharp but clear enough downward trendline and started to bottom out at major support of 1.86150. We can see a W or double bottom formation forming, we'll have to see if price breaks out of the trendline and start heading towards the upside or create a third leg and then start flying for hundreds of pips yet it is still early for it. When we place our fib from the high to the low, there is a sight resistance at the 38.2 point of the fib. we could see price hit that and consolidate for a bit or start dropping.
When the pair starts to create more and more confirmations I'll call it out in the telegram channels and our Instagram.
we started our entry at 1.86150 this during london session when the pair created a thrid leg. we moved our stop loss to break even when it hit +35 pip profits and expect it to continue upwards over the next couple weeks.