informedtrades
Long

Countertrend Trade Setup on GBPNZD

FX:GBPNZD   British Pound / New Zealand Dollar
87 0 1
Normally I'm not interested in trading against the trend, but I think enough of an opportunity exists in going against the trend here -- and after much observation I think it may improve my trading -- I thought the setup on GBPNZD             would be worth taking. We see price is in a bit of a downward channel , but has fallen to support where today's price action is stalling a bit. I think this is the market responding to support and perhaps gearing up to go back to the top of the channel. As such, I'm long at 9877, with my stop at 9778 and my take profit at 2.0504.

Learn more about trading: http://www.informedtrades.com
English
English (UK)
English (IN)
Deutsch
Français
Español
Italiano
Polski
Türkçe
Русский
Português
Bahasa Indonesia
Bahasa Melayu
ภาษาไทย
Tiếng Việt
日本語
한국어
简体中文
繁體中文
Home Stock Screener Forex Signal Finder Cryptocurrency Signal Finder Economic Calendar How It Works Chart Features House Rules Moderators Website & Broker Solutions Widgets Stock Charting Library Feature Request Blog & News FAQ Help & Wiki Twitter
Profile Profile Settings Account and Billing My Support Tickets Contact Support Ideas Published Followers Following Private Messages Chat Sign Out