Hi Traders! We have a GBPNZD Short Term Sell Opportunity forming. This is a short term trade based on a H4 chart range that the price is currently trading inside. Keep in mind that our main direction is still up, and thus If we get a setup we should be trading it with smaller risk than usual. Besides the potential risk:reward here is good.
GBPNZD H1 Chart:
Ideally we want to see the price reaching the top of the range (rectangle) around 1.7850. Then we want to see a break below the trend line. We are however already in a good zone (61.8%) so if the breakout happens here, we can still take it.
Invalidation – if the price breaks above the range, before we get triggered, remove the idea.
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