GBPNZD Long: Buying on Break of Resistance
Updated
GBPNZD is in a strong support zone on a higher TF. I'm buying when resistance is pierced on the risk that this higher TF candle will close higher and send the pair toward target line. The R/R is high enough for me to take this risk. Manage your risk first, it is the most important component of trading.
Trade active
Here is the 1m candle breakdown:Trade closed manually
Closing this one at a small 9 pip profit. We did not get the follow through I was looking for in order to reach target. Cheers
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