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VladimirRibakov
Aug 9, 2017 12:16 PM

GBPNZD Sell Idea Short

British Pound/New Zealand DollarFXCM

Description

H4 - Price moving inside a range but keep in mind that our main direction is still up, and thus If we get a setup, it is recommended to trade it with smaller risk than usual.

The potential risk:reward here is good.

First of all we want to see the price reaching the top of the range (rectangle) around 1.7850.

First we want to see a break below the trend line.

However already in a good zone (61.8%) so if the breakout happens here, we can still take it.

Invalidation - if the price breaks above the range, before we get triggered, remove the idea.
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