GBP/NZD Short into a Long setup

British Pound / New Zealand Dollar (FX:GBPNZD)

Updated

FX:GBPNZD British Pound / New Zealand Dollar

trendanalysis supportandresistance forex gbp nzd gbpnzd tradeidea

GBP/NZD has broken manged to spike 300 pips off of a 3rd touch on the uptrend. It has spiked right into a down trend which we could look for shorts. It will more than likely pull back to the Downtrend that was once broken and retest on the back end of it. If it fails to do so we could target our uptrend. In which we could look for longs if price does show signs of reversal from this region.

Trade closed: target reached:

+150-200 pips, 4hr Shooting star and we went long.

Comment:

Re-adjusted my resistance

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