On this chart we can see a pull back that has occurred during this uptrend, a new level of support was found and price has come back to retest We are already in this trade and I will be expecting price to bounce off this level and continue moving up
Price has fast approached our marked level of support. This set up is showing the potential to retrace at least 50% of the bearish move before advancing lower. Entry, stop loss and take profit have been marked. Do not risk more than 2% on this date.
BUYING GBP/NZD Entry: 2.0511 Target 1: 2.0685 (174+ pips) Target 2: 2.0951(440+ pips) SL: 2.0390 (121- pips)
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We are in the middle of a pandemic right now with everything that is going on with the Corona virus. It seems to me that Australia and New Sealand were hit hard economically and will be in the next few weeks. My eyes will be on a long trade to the same level of the spike on March 8 which is a Monthly support and resistance level @2.17 On the other hand there...
GBPNZD expected to reverse up to 1st support at 2.03525 where it could potentially react and bounce to its resistance at 1st resistance at 2.04064. Trading CFDs on margin carries high risk. Losses can exceed the initial investment so please ensure you fully understand the risks.
GBPNZD expected to rise up to 1st resistance at 2.05006 where it could potentially react off and drop down to 1st support at 2.02305. Trading CFDs on margin carries high risk. Losses can exceed the initial investment so please ensure you fully understand the risks.
As we can see, the value has retested a point 3 in the downtrend and is now falling without any other retest and in a really hard way, so this is our confirmation to enter in the operation, our first TP could be in the weekly KL and the second one will be in the monthly KL.
Looking to test broken resistance for a pullback
BUY STOP - PENDING ORDER BUYING GBP/NZD Entry: 2.0125 Target 1: 2.0233 (108+ pips) Target 2: 2.0376 (251+ pips) SL: 1.9993 (132- pips) It's a 132- pips SL. so if you are 1% risk is higher than SL, Do no take this trade. If the GBP PMI numbers are BAD exit the trade early.