TradingView
KPeykov
Nov 29, 2015 6:10 PM

GBP/NZD Bullish King’s Crown Formation Long

British Pound/New Zealand DollarFXCM

Description

For the past 2 weeks we've seen the price of GBP/NZD retrace to 61.8% level.
But the price still keeps making Higher Highs and Lower Lows. MACD turns up.
This is Bullish Crown Formation for turning the mid term from bearish to bullish (resuming to the bullish long term).
Now is the perfect moment to get in a Trade.
Buy: at 2.2900 (61.8% fib retracement level)
Stop Loss: 2.2400 (Below the Swing Low, if price brake that level trade invalidation)
Target: 2.5200 (127.2% fib extension level)

Trade active

Comments
Beebags
Great setup, even a conservative profit target of a retest of 2.36 would give a 1:1 Risk/Reward. Thanks for chart.
More