I have a Bullish Stance on the GBPNZD...
- Price Divergence Between GBPUSD and LBR310 Oscillator.
Entry Scenario #1 - Aggressive
- Enter Near Friday's Close...WAIT! for the first Hour bar close to avoid the bizarre wide spreads
Entry Scenario #2 - Confirmation
- WAIT! for the Previous Day HIGH to be Broken - indicating higher prices (or it might be a false break...)
- Retracement to Price Congestion Area (Purplish Area) Prior to the Breakout of price that takes out the Previous Day's HIGH
- Blue Paths show potential retracement levels and TP Areas #1 and #2
- 1:3+ RR (60SL and 200pip TP)
- TP#1 - Previous Week Thursday's High
- TP#2 Area near a Previous Price Congestion Area (Purplish Area) and 2.08500 Round Number
- BEWARE! Price can Gap down below Friday's Low
Use at own risk...Am a rookie!
- Price Divergence Between GBPUSD and LBR310 Oscillator.
Entry Scenario #1 - Aggressive
- Enter Near Friday's Close...WAIT! for the first Hour bar close to avoid the bizarre wide spreads
Entry Scenario #2 - Confirmation
- WAIT! for the Previous Day HIGH to be Broken - indicating higher prices (or it might be a false break...)
- Retracement to Price Congestion Area (Purplish Area) Prior to the Breakout of price that takes out the Previous Day's HIGH
- Blue Paths show potential retracement levels and TP Areas #1 and #2
- 1:3+ RR (60SL and 200pip TP)
- TP#1 - Previous Week Thursday's High
- TP#2 Area near a Previous Price Congestion Area (Purplish Area) and 2.08500 Round Number
- BEWARE! Price can Gap down below Friday's Low
Use at own risk...Am a rookie!