DISCLAIMER: Hi everyone, I'm new to trading and this is just a log book for me on applying everything that I have learned and continue to learn as I go along. That being said, I do not advise you to base your trading on these "ideas".
I've been looking at the British Pound/New Zealand Dollar pair for a while trying to think of where it might go. It's been on...
Finally, GBP/NZD pair breaks the resistance zone strongly.
In H4 Chart, there is a corrective pullback sit well on the previsous resistance zone.
It will be a great trade to long when there is a strong bullish bar appears as a signal to entry :)
It will be a less risk with huge potential return trade :)
3 white soldiers (3 strong bullish trend bars) show the strength of bullishness.
Watch if the price can break through the resistance zone near 1.77xx.
It will be good to entry when the price pull back to the resistance zone again!
Enjoy your day :)
PRICE BROKE FROM THE MAJOR SUPPORT TREND LINE.
WAIT FOR PRICE TO JUST TOUCH THE 0.618 FIB IMPORTANT LEVEL (1.77927).
PLACE A BUY AT 1.7700 WITH A STOP LOSS AT 1.77530.
NO PROFIT TARGET. FOLLOW THE NEW TREND AND LET THE PIPS COME TO YOU.
Its the third time at the same level market rebound and the triangle more explored to us after breaking the down trend and testing it again we are sure market will go up to 1.8041 this level our first target and under the new low is our SL .
Good luck ..
