GBPNZD: Pound/Kiwi retracement done in 2 days
Updated
The GBPNZD pair has been in a strong uptrend, and after topping in August 24th, when the stock market bottomed after flash crashing, endured a lengthy correction.
The time for this correction now matches the time the advance took to form, and we're close to a perfect 0.618 retracement of it, which nicely lines up with many time at mode elements suggesting a long is possible in this zone.
I'll be looking to entering intermediate/long term positions around these parts, I expect new longs to enter after new year, and a very strong uptrend aiming for 2.66+ to start soon.
The stop loss for this entry is vital, and can make or break the trade, so I will enter with a few different techniques to attempt to leverage this into a giant home run trade.
For details on the specific position management, entry, exit, and stop loss values we will use, contact me, since I will reserve this for my private trading room.
Good luck!
Ivan Labrie.
The time for this correction now matches the time the advance took to form, and we're close to a perfect 0.618 retracement of it, which nicely lines up with many time at mode elements suggesting a long is possible in this zone.
I'll be looking to entering intermediate/long term positions around these parts, I expect new longs to enter after new year, and a very strong uptrend aiming for 2.66+ to start soon.
The stop loss for this entry is vital, and can make or break the trade, so I will enter with a few different techniques to attempt to leverage this into a giant home run trade.
For details on the specific position management, entry, exit, and stop loss values we will use, contact me, since I will reserve this for my private trading room.
Good luck!
Ivan Labrie.
Trade active
Note
Stop at entry price (practically the low)Note
Might be wise to rejoin the uptrend.Note
Very nice move, I didn't catch it, was in GBPAUD though. I'll rejoin this trend asap.
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ivanlabrie.substack.com/
ivanlabrie.substack.com/
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