2nd attempt to short GBPNZD .. the week of 09 Sep 2024My 1st attempt had failed, perhaps partly due to incorrect identification of support/resistance.
Entry - approx. 2.1200 (deliberately late to be under the 20sma on H4 time frame)
Stop - above the recent high at 2.1330
1st target - 2.0900
Possible potential to take this down to 2.0600 region
(The outcome of this trade really depends heavily on the 2.1250 area holding as resistance).
This is not a trade recommendation. You should be aware that trading carries a high level of risk, so only trade with money you can afford to lose. Please use sound money and risk management, trading without a stop or moving the stop away from price is a recipe for disaster.
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It’s not whether you are right or wrong, but how much money you make when you are right and how much you lose when you are wrong – George Soros