Use position size calculator DO NOT RISK more than 1% SL: 1.85900 TP: 2.03900
It may be better to open the trading after the formation is complete.
As we can see, GBP/NZD is failling to establish it's support zone. As soon as the support line is broken, we can expect the bearish trend to continue until it's next support. Remember, preserving your money always comes first in trading. Your second goal is to grow your portfolio. Trade safely.
Gbpaud - daily chart - Good swing trade setup here, clear break of bullish structure on weekly chart calling for a deeper pull back. Decent risk to reward.
Daily Charts GBPNZD potential rising wedge pattern wait for price to break lower trendline before going SHORT
Take a look at the daily chart and you can see the head and shoulders pattern developing. At the moment the right shoulder is just being formed, but the swing high is complete at the right shoulder suggesting more downside. You can see that the recent high coincides with the high established where the left shoulder is. This is an aggressive entry. Most will...
Hi traders, We had a very long range on the GBPNZD daily chart and we recently broke it. The arrow that is pointing on the last candle is the re-test candle, testing the previously broken area successfully. I will open my trade on Monday and see where price will bring me :) On my first target, I will take out 50% of my profits EXCEPT price is showing strength....
For all we've known, formation of inside bars may mean two (2) scenarios: a reversal of the trend or a continuation of it. Since I'm already long Pound-Dollar, I will be looking to enter a long. Be cautious of the incoming Great Britain election.
Now that the down move has reached the up trend line it appears as if it is time to look for a run back to the upside. The trend line on the daily chart shows support at the moment and if it holds will provide a good reward to risk ratio.
short opportunities after head and shoulders on GBPNZD. plenty of selling opportunities coming ahead. (homework from webinar)
Spotted a bearish bat pattern on GBP/NZD. Would you agree? I'm looking to enter Short, with a small position, slightly below point (D). TP @ .382 fib retracement. SL just above (X)