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…
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:
Buy entry stop: 2.0493 + spread
NOTE: this is not a market order, it needs to reach 2.0493 + spread to get triggered!
What do you think about my GBPNZD signal? Are you going to take it?
What other currencies are you trading/monitoring?
Share your thoughts!