Quite strong support and resistance playing out on GBP/NZD. I will be taking it to the previous support and will be looking on from there. My take profit is 1.89265 and stop loss is 1.913122. Good luck!
Daily: Bearish engulfing candle after upper trendline line touch
Price is in an ascending channel
Overall trend = downtrend
LTF correction towards the upper trendline line, Indicating us that price could reject the upper trendline and move to the downside
Price broke out of the LTF correction, need to wait for a correction before an entry
Need to wait...
welcome to a new free trading-setup.
Notice: This is meant to be a preparation for you! As always we will have to wait for a confirmation.
Target 1: 1,97860
Target 2: 1,96370
Target 3: 1,94885
Stop-Loss: 185 pips
Risk: 0,5 % - 1%