Do you trade the GBPNZD? You should, here is a signal

Hey trader, as I said yesterday, there aren’t many opportunities available, most currency pairs are ranging in tight not well defined ranges…

But when se a good opportunity, we need to take advantage of it… right?

Again, how do I define a good opportunity?

When I get all these:

  • Clear S&R levels
  • Clear swings
  • Good profit potential

And that’s exactly what we’ve got in the GBPNZD… here are the details:

GBPNZD Long Term Analysis

Its clear that the GBPNZD has been rejected from an important LT support level…

GBPNZD 1D

And as you already know, once the market gets rejected from an important level, it is likely to continue its way up until it reaches its next LT level… which is at 2.0910.

It is currently trading at 2.0420, so we’ve got plenty of room before the market gets there.

Now, lets take a look at the short term charts and see where we could set our entry level.

GBPNZD Short Term Analysis

Here is what the short term chart looks like:

GBPNZD 15M

Order details:

Buy entry stop: 2.0493 + spread
SL: 2.0447
TP: 2.0880

NOTE: this is not a market order, it needs to reach 2.0493 + spread to get triggered!

Your turn

What do you think about my GBPNZD signal? Are you going to take it?

What other currencies are you trading/monitoring?

Share your thoughts!

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Raul Lopez

I've been trading the markets for more than 15 years. I believe the best way to trade is by adapting to the market conditions. You can learn it too, join our community .

  • Varahala Babu

    hi raul…what`s your opinion on JPY pairs…usd/jpy, eur/jpy, gbp/jpy …looks like bullish..do you agree ?

    • Raul Lopez

      Hello Varahala,

      Most JPY crosses are bullish…

      Be careful tomorrow though, the FOMC has proven to be the most important fundamental announcement in the last couple of years!

      Good luck!

  • Shez

    I also have a LT level at 2.0600 … is that a valid LT level? Or is is ST
    Shez

    • Raul Lopez

      That would be ST Shez.

      Good luck!

  • Chad Hogan

    Raul,
    I also got stopped out on GBPNZD also. Momentum didnt continue. I got long on USDJPY @ 107.708, SL 107.207 TP, 109.495. Its making another range so Im waiting. Im also monitoring GBPJPY, CADJPY AND USDCHN. I also think EURUSD will show some promise if it breaks lower.

    • Raul Lopez

      Hello Chad, I know, GBPNZD didnt follow through…

      Be careful tomorrow through, the FOMC has proven to be the most important announcement in the last couple of years…

      Your trade should be fine!

      Good luck mate!

  • richard

    Hi Raul
    for GBPNZD I have resistance at 2.0500 and prior resistance at 2.0600. I use 5 day charts based upon New York close ( no weekend candles). My call is a break thru 2.0500, then back to 2.0500 and buy on rebound uptowards 2.0600.
    cheers Rich

    • Raul Lopez

      Thank you for your feedback Rich! Yep, the key is the breakout of that resistance level.

      We’ll see what happens tomorrow!

  • dominiek

    Dear Raul,.. i love your signals but not once your trade reached the tp… always SL… i have been following you for a year now

    • Raul Lopez

      Hey Dominiek, the last few signals have not worked, but if you go back a before those, I had some pretty good trades…

      Now, you’ve got to remember that some of them are just pure analysis, so I’m suggesting to monitor a particular pair, not to trade it (until the short term charts look clearer)…

      Thank you for your comment! I appreciate it

      Have a great weekend!

  • Chad Hogan

    Hi Raul,
    I was waiting for the break of GBPNZD and monitoring the 1hr chart for a set up. I like the look on the daily for a retest of 2.1043. Im long with you on this one. Im currently long on the USDJPY and am closely monitoring a few others. I think your prediction on GBPCAD is correct, it should make its way down now. Ill let you know how I go.
    Cheers m8.

    • Raul Lopez

      Hey Chad, I got stopped out on this one… Good luck in the USDJPY, where did you go long here?

      I have the GBPCAD still trading near an important level (1.8112)… se the range in the short term charts?

      Have a great weekens mate!

  • Philip Kerch

    What was that large swing high then swing low candle all about. It took out my stop and ran up fast to 2.0555 and then down again. STOP running??

    • Raul Lopez

      Yep, that was it…

  • Philip Kerch

    Why so sensitive to entrance at 2.0493 + spread and your stop seems a little tight
    Thanks
    Phill

    • Raul Lopez

      Hello Philip, well I think that if the market reaches that level, it is likely to continue its way up… we’ll see…

      And yes, the SL level is a little tight in this case, but I think its enough to see if this trade is going to work…

      Thank you for your questions!

      Good luck!

      • Philip Kerch

        So the idea is to demand that the trade has initial momentum in order to even start the trade
        I like your style
        Thanks
        Phill

        • Raul Lopez

          Thats correct Philip!

          No problem!

          Let me know if I can help you with anything else.

  • Eric Aroh

    Hi Raul,
    You are correct. It is on my watchlist, as a BUY. The stop loss level is what I am still working on. Any tips on how you arrived at it, because basing it only on R:R ratio is beyond the traditional 2:1?
    Thanks,
    Eric

    • Raul Lopez

      Hello Eric,

      Excellent! I’m glad you have this one on your watch list… I see you later today and we’ll talk about the SL and TP levels…

      Yep, I only take trades that are at least 2:1, but most of the time the RR ration is larger than 2:1…

      Cheers