GBPNZD@ Last Move Up Before A Sell Off

A couple days ago i posted an idea with a bearish setup in the GBPNZD. The main idea was that price is at a key resistance level and after a sell off we had a 5 move down breaking a short term support level. I mentioned that we should expect for an ABC correction with C wave ending at about 0.618 of the 5 wave move.

Price is doing exactly as i predicted so i believe that we have a decent chance of trading wave C. The setup is giving us a very nice 4:1 risk/reward ratio.

Good luck to those who follow this long trade!

Like and comment,
John

Trade closed: stop reached