In a previous Trade Idea I predicted that GBPNZD would break out of channel long. GBPNZD broke the channel short to continue long term down trend. If the bottom of the channel turns into resistance, GBPNZD will likely continue south down to the next major S/R zone. You can see full analyses for the original GBPNZD Long break out
On the first bearish candle after the channel rejection enter a Sell Stop a few pips under the bearish candle. Stop loss would be above the bearish candle for the tightest stop loss. For a more flexible Stop Loss you can put the stop loss inside the channel. Use your trading plan for take profit.
On the first bearish candle after the channel rejection enter a Sell Stop a few pips under the bearish candle. Stop loss would be above the bearish candle for the tightest stop loss. For a more flexible Stop Loss you can put the stop loss inside the channel. Use your trading plan for take profit.