Long

GBPNZD Scalp Setup

Updated

GBPNZD Scalp to the 0.618 opened stops very clear in chart.

Low risk scalp either at the break above or now.

Regards

Note

GBP crosses came under pressure during early London trading but the majority are sitting at either Pivot support levels or other key levels such as this cross.

I'm currently still sitting on my long at very close to break even with trading taking place within the support area. Trading could turn into choppy price action today with range bound price action in which case I would be looking to exit with minor profit/loss.

Notable levels if this pair were to break lower in the bottom chart.

Trade closed manually

In the chart below we see the red line which is the level for yesterdays close and the bottom black line yesterdays low.

What we can also see is that price broke below yesterdays close and every attempt at moving higher meets sellers although this is for the time being only seen on lower time frames the trade no longer meets my standard criteria for remaining in a trade meaning when in doubt exit.

I have now exited with a very minimal loss shown in the chart below.

GBP pairs continue to come under pressure in the middle of the London trading session which could easily carry over into New York so I do not want to be left holding the bag if this pair drops through the floor quickly.

BTCMarket

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