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GBPNZD – waiting for a range breakout

Seems as if the market is waiting for tomorrow and Friday’s important announcements, most currency pairs are ranging around an important level. This is also the case for the GBPNZD:

My trading plan for the GBPNZD is as follows:

If it breaks the top of the range it will trigger a bullish condition, then I’ll start looking for short opportunities

If it breaks the bottom of the range it will trigger a bearish condition, and I’ll start looking for short opportunities.

Since it is not a well defined range I will no trade the short term range

Trade Safe!

Raul Lopez
Forex Course

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Raul Lopez

I've been trading the forex market for more than 11 years. All my trades are based on price action. Check out my Forex Coaching program, I can help you develop a system that helps you trade consistently.