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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