GN has provided a very beautiful 5 wave bearish move within a set of guidelines. Price has just broken out of this parallel
channel and should be looking to create a corrective structure. I am anticipating a retest of the trendline along with the
confluence of the 61.8% fibonacci retracement level. As shown, I may trade the retest leg as well, as I wait for my buy
limit order to be triggered at 1.91260.
Long trade Targets:
-1.94000
-1.96000
I hope you enjoy this setup, Let me know in the comments what your view is on this pair, I would gladly love to discuss perspectives.
Hit the like button and share if you please, I will highly appreciate it. Have a blessed trading week.
channel and should be looking to create a corrective structure. I am anticipating a retest of the trendline along with the
confluence of the 61.8% fibonacci retracement level. As shown, I may trade the retest leg as well, as I wait for my buy
limit order to be triggered at 1.91260.
Long trade Targets:
-1.94000
-1.96000
I hope you enjoy this setup, Let me know in the comments what your view is on this pair, I would gladly love to discuss perspectives.
Hit the like button and share if you please, I will highly appreciate it. Have a blessed trading week.
Note
Price didn't retrace to the anticipated retest level and has since spiked through what is my TP 1 level. Lovely move by GBPNZD.
Trade closed: target reached
TP 2 Hit
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.
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.