joebrownFX

GBP/NZD - LONG... Did you just get stopped out? Here's why

Long
OANDA:GBPNZD   British Pound / New Zealand Dollar
Did you just hand back over some money to the market after what you thought was a great entry? But why, that "support" looks fantastic? You might have thought;

Multiple touches in the past, strong zone.
Price created some nice bullish Price Action, it must be bouncing off the support.
We had a huge strong move up not too long ago.
This is accumulation within that strong move now is a good entry.

Lets enter and place our stops underneath that strong zone, surely price will fly!

All the banks and the big investors see is a nice zone full of stop losses, great liquidity for the taking. Why would the banks try and fill their massive orders at a worse price, when they can manipulate it downwards and gain a much much better entry.

Trade smarter not harder. Follow the big money in the markets. Wait until the liquidity (stops) have been cleared out, then enter!

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