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UnknownUnicorn772665

GBPNZD Short Trade Setup *TREND & FIB COMBO*

Short
British Pound / New Zealand Dollar (FX:GBPNZD)  
UnknownUnicorn772665 Updated   
FX:GBPNZD   British Pound / New Zealand Dollar
Trend Analysis Wave Analysis Chart Patterns GBPNZD GBP Technical Analysis Fibonacci Retracement
3
1
trendanalysis waveanalysis chartpattern gbpnzd gbp technicalanalysis fibonacciretracement
Bearish trendline holding strong with 3 rejections now. I will look to go short on the 4th touch of the TL around the 1.96420 area where the fib 0.786 retracement level also sits.

Stop loss comfortable above the TL and targeting a new lower low at 1.93200

Potential for nearly 6:1 RR
Comment:
Awaiting price to reach my entry zone first.
Trade closed: target reached:
TP1 reached

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