GBPNZD: Buy Signal from Support
The price broke the downtrend line, and it gave us a buy signal. As the market has been moving down for several months, we can expect a pullback to SMA50. MACD lines support such upward movement. Also, DMI tells us that sellers are not so strong to continue the downtrend.
We have a possible buying opportunity.
Estimated entry and exit points:
Buy above 1.90780
Stop below 1.89565
Profit Target at 1.95550
Risk per trade must be no more than 1-2% from the trading capital.
The 4H looks bearish, and we can expect a short term downside movement to 1.90000 support zone. That's why it makes sense to wait for a reversal signal from the support and open long positions after the reversal.
P.S. as I don't use like-bots and other solutions that show great "interest" to my posts, I will be grateful if you support my work by your LIKEs and comment. Of course, if you can do it. The feedback from REAL people is priceless!
Disclaimer!
This post does not provide financial advice. It is for educational purposes only! You can use the information from the post to make your own trading plan for the market. But you must do your own research and use it as the priority. Trading is risky, and it is not suitable for everyone. Only you can be responsible for your trading.
We have a possible buying opportunity.
Estimated entry and exit points:
Buy above 1.90780
Stop below 1.89565
Profit Target at 1.95550
Risk per trade must be no more than 1-2% from the trading capital.
The 4H looks bearish, and we can expect a short term downside movement to 1.90000 support zone. That's why it makes sense to wait for a reversal signal from the support and open long positions after the reversal.
P.S. as I don't use like-bots and other solutions that show great "interest" to my posts, I will be grateful if you support my work by your LIKEs and comment. Of course, if you can do it. The feedback from REAL people is priceless!
Disclaimer!
This post does not provide financial advice. It is for educational purposes only! You can use the information from the post to make your own trading plan for the market. But you must do your own research and use it as the priority. Trading is risky, and it is not suitable for everyone. Only you can be responsible for your trading.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.