Fxprotrader
Long

GBPNZD@ Last Move Up Before A Sell Off

FX:GBPNZD   British Pound/New Zealand Dollar
A couple days ago i posted an idea with a bearish setup in the GBPNZD             . The main idea was that price is at a key resistance level and after a sell off we had a 5 move down breaking a short term support level . I mentioned that we should expect for an ABC correction with C wave ending at about 0.618 of the 5 wave move.

Price is doing exactly as i predicted so i believe that we have a decent chance of trading wave C. The setup is giving us a very nice 4:1 risk/reward ratio.

Good luck to those who follow this long trade!

Like and comment,
John
Trade closed: stop reached
Thanks a lot for the detailed analysis!
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You are welcome prisma..!
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wave B fall below Wave A, Is it now null and void
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The setup i posted didn't work out.. If you are still interested trading this pair look at the link for the related idea.
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kmk.msp Fxprotrader
which link?
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GBPNZD@ Rally Is About To Be Over
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