We closed our short from last week as GBPNZD broke through are golden pivot line @ 1.96569 to test daily support trendline.
The silver daily support trendline has been respected and pound looks to go long. If it holds above our golden line at 1.96569 the market will continue in a bullish fashion.
If the market fails to hold above we will expect a continuation...
I entered this @1.97127 with a SL just above the highest high.
SL placed at @1.97660
TP1 = +30 pips
TP2 = +50pips
TP3 = 1.95048
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Looking for a short when price returns to the overhead trend line. My short term bias on this pair in bearish due to the fact we are now quickly approaching January 31st and uncertainty around the short-term outlook for the pound increases in light of Brexit - therefore I believe the fundamentals are in favour of this trade. We have further confluence...
This is my first published article on tradingview, I am not experienced however I am learning so would appreciate any and all advice
I will be taking a buy on 38.2 fib level (~1.96880)
TP1 - 1.97180 (30 PIPS)
TP2 - 1.97380 (50 PIPS)
TP 3 - TBD
Please let me know what you think of my idea!!