GBPNZD Long, Double Bottom rejecting the 50 EMA
Hi guys,
another day another trade. Quite alot of setups this week so far. Today I'm going to put an entry order on GBPNZD.
Price pulled back and formed a double bottom, rejecting the 50 EMA aswell as the 0.618 daily fibonacci retracement level.
As of the time of writing this price has'nt closed above the daily 0.5 level yet, if the day should close above it would be the icing on the cake.
I will put an order shown as on the screen. My risk per trade is 1% of my account size.
Happy trading
another day another trade. Quite alot of setups this week so far. Today I'm going to put an entry order on GBPNZD.
Price pulled back and formed a double bottom, rejecting the 50 EMA aswell as the 0.618 daily fibonacci retracement level.
As of the time of writing this price has'nt closed above the daily 0.5 level yet, if the day should close above it would be the icing on the cake.
I will put an order shown as on the screen. My risk per trade is 1% of my account size.
Happy trading
Trade active:
Trade is live, furthermore our stop placement has worked out for today. With the close of a massive Lowtest the Price Action today suggests that buying power is present at the current level and below. Itll be interesting to see how this trade developes, until then the tradingplan stays the same!
Comment:
Target was nearly clipped, still in this trade however. Depending on how big the rejection upon close today is I will move my stop to breakeven.
Trade closed: target reached:
traget reached!