Roker1

Structure Trade on GBPNZD

Long
FX:GBPNZD   British Pound / New Zealand Dollar
Hey guys,
here on GBPNZD we're now testing a very important structure area; as you can see on the left hand side of your screen price has already found resistance in that area and it could now turn into support and push price higher. Given the case, i want to be involved on the long side of this pair, hoping for a continuation on the upside. Now, you can use different kind of entries: you can either buy right now (aggresive entry) or buy the breakout of the wedge that's forming right now (conservative entry). It depends on your risk appetite, in any case, stops below the lows, and if you're aggressive, target1 as displayed above, target2 to be determined (could be huge).

If you have questions, or if you want to share your idea, feel free to comment below.
Otherwise, see you in the next chart!
Trade closed manually: Out just a little below breakeven. UK elections are in sight.
Se sei d'accordo, lascia un mi piace! Grazie
Canale Italiano: https://www.youtube.com/c/MisterForexIT
Ultimo video: https://youtu.be/0rIFF-j4kdM

If you agree, like this chart! Thanks
My last (english) videoanalysis here: https://youtu.be/RUySg8LW6Iw

Comments

Nice chart! How do you think general election will affect GBP?
+1 Reply
Roker1 Foxinlondon
@Foxinlondon, i don't know, but i'm going to exit anyway before the results come out, with my full position if in red, with half position if in green. Thanks for commenting!
Reply
@Roker1, are you long already?
+1 Reply
Roker1 Foxinlondon
@Foxinlondon, yes, the blue line represents my entry point!
Reply
@Roker1, I am looking at GBP/JPY and see possible double top formation, plus its downtrend long term. I am in bearish camp actually )
+1 Reply
Roker1 Foxinlondon
@Foxinlondon, GJ presents a different situation with a break and close below structure with no s/r areas looking left, i would agree with a short
+1 Reply
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