Long GBPNZD
TRADE #6
Overall price still in an up trend.
Price respected 61% retracement from the previous move. Now it is approaching to 50% - 61% retracement of the major up trend.
I am placing a buy order at 1.84300 which is 61% retracement
Stop loss at 1.83150 ( Due to its volatility I am risking more than the usual )
Reason to get in the trade:
1) price is approaching to 61% retracement
2) price could be touching the trend line.
3) Support
Overall price still in an up trend.
Price respected 61% retracement from the previous move. Now it is approaching to 50% - 61% retracement of the major up trend.
I am placing a buy order at 1.84300 which is 61% retracement
Stop loss at 1.83150 ( Due to its volatility I am risking more than the usual )
Reason to get in the trade:
1) price is approaching to 61% retracement
2) price could be touching the trend line.
3) Support
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