BlackTygaTrades

GBPNZD going short after channel break

Short
OANDA:GBPNZD   British Pound / New Zealand Dollar
Price broke the ascending channel with a bearish candle, showing bearish momentum. Price then reversed to retest the channel, zone area and descending trend line, which forms a solid confluence. Multiple wick rejections form before the formation of a large bearish candle, showing the strength of the confluence and bearish momentum taking over. This gives rise to a sell opportunity.

Related Ideas

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.