Why not? It will be good if GBPNZD if it forms an ABCD pattern. Plenty of buy and sell opportunities ;-)
Buying above the support area and selling below the support area is the best thing to do. But which support to consider? Triangle support? or Channel support? I will reserve my answer to my signal subscribers ;-)
If this intraday support hold, buy above it. If it fails to hold, sell below it.
TRADE IDEA: Take Profit between 50% to 61% Fib Set Stop Loss below S1 of Pivot. 1:1 Risk/Reward Ratio
Sharing my current trades (see chart for explanation)
Our preference: Long positions above 0.6265 with targets @ 0.6377 & 0.64 in extension. Alternative scenario: Below 0.6265 look for further downside with 0.6235 & 0.621 as targets.
Our preference: Short positions below 120.15 with targets @ 119 & 118.75 in extension. Alternative scenario: Above 120.15 look for further upside with 120.55 & 121 as targets.
Our preference: Short positions below 0.7025 with targets @ 0.6935 & 0.69 in extension. Alternative scenario: Above 0.7025 look for further upside with 0.706 & 0.709 as targets.
Our preference: Long positions above 1.116 with targets @ 1.133 & 1.1385 in extension. Alternative scenario: Below 1.116 look for further downside with 1.1105 & 1.107 as targets.