Short

TRADE OF THE WEEK | Classic Price Action Trade💰

Updated

Hey traders,

Here is a great confirmation top-down trade that I caught on GBPNZD this week.

Being very bearish biased on the pair, I was monitoring the pair for quite a while. I was looking for shorting opportunities within a wide weekly/daily supply cluster.

GBPNZD: Trend Violation & Mid-Term Outlook 🇬🇧🇳🇿

After weeks of passive observing, I finally spotted multiple confirmations:
The price broke a rising channel on 4H time frame.

My entry reason was a double top formation on an hourly and its neckline breakout & consequent retest were the triggers.

Then the market dropped sharply giving me 250 pips of pure profit and 4/1 risk to reward.

Great trade!

Did you catch a bearish rally on GBPNZD?

❤️Please, support this idea with like and comment!❤️

Note

Check my new idea on EURUSD:

EURUSD: Weekly Time Frame Analysis & Important Clues 🇪🇺🇺🇸

VasilyTrader

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