The 4 hour time frame for GBPNZD shows a nice bounce back of the support level that created a new ascending trading range. possible targets are the next 2 resistance levels that could be hit within the next 3 days since its the 4 hour time frame. Now when you go to the daily and weekly time frame you will even see a possible target of at least 1.88 long term. next 2 weeks up to 3 months. So on the short AND long term GBPNZD will be a nice buy to hold or to add buys on the dips. I prefer starting with a small position and adding more every 80 pips it goes up while maintaining a 60 pip stop loss that moves up a long the trend up.
Trade active
Trade closed: stop reached
Trade active:
new buy from here, tight 40 pip stop loss. a long the way up i will move the stop up and add more buys. will update this idea also along the way.
Trade active:
2nd buy added
Trade active:
3rd buy
Comment:
Loss from 1st trade recovered by a lot. now just following the upwards trend while moving stop loss a long.
Trade closed manually:
closed all positions. total profit over 300 pips