GBPNZD Long
On the daily chart, the pair is at an important area of support. A strong indication of a reversal is imminent with a double bottom highly likely.
As such I anticipate a bounce off the trendline once the retest is complete to also form an inverse head & shoulders on the 4H chart.
This is a swing trade with a risk-reward ratio of 1:12.36.
So GBPNZD LONG:
SL: 1.93103
TP1: 1.97052
TP2: 2.01459
TP3: 2.05619
TP4: 2.09324
As such I anticipate a bounce off the trendline once the retest is complete to also form an inverse head & shoulders on the 4H chart.
This is a swing trade with a risk-reward ratio of 1:12.36.
So GBPNZD LONG:
SL: 1.93103
TP1: 1.97052
TP2: 2.01459
TP3: 2.05619
TP4: 2.09324
Trade closed: stop reached
Stop loss hit. will look for re-entry
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.