GBPNZD, 4hr tf, sell on retest of resistance levelMy second trading plan for the next week is GBPNZD pairs.
As you can see there is a gap which has not been filled for 2 weeks.
It's quite a big gap and i think it will be fulfilled sooner or later.
GBPNZD finally broken below the ascending trendline which supporting it since 15th December.
I am now waiting for price to retest that trendline before taking a sell position.
I would prefer if price also retest 1.9080-1.9100 resistance level before going down because this area could be a crucial supply and demand zone.
If price really touch 1.9080-1.9100 area and reverse to the downside, we could also see it as a potential shoulders head pattern.
A sell limit position will be placed at 1.9080 just in case i was not watching the pairs when price come to this area.
Sell limit GBPNZD 1.9080
Stop loss 1.9160
Take profit 1.8690 (4.8R)
RR Ratio 1 : 4.8
Use only 1-2% risk
Good luck
