H1 - Strong bearish momentum.
Currently it looks like a pullback is happening.
No opposite signs.
Expecting the price to move lower further in the short term after pullbacks until the strong resistance zone holds.
Looking for a 50% retracement on this trade to enter at the grey line.
Entry - Grey line
Stop loss - Red line
Take profit - Green line
Risk exposure - 1%
Risk to reward - 1:2
Happy trading :)
It looks like GBPNZD is bouncing back up of the lower range, how ever the indicators aren't very convincing yet. Best is to wait till this daily candle closes. If it closes around CMP this will be a nice buy. If it closes at the lower range then wait till tomorow, if it closes below then sell. Easy setup if you have some patience
