My plan was to sell this pair, but no sell signals and I bought it on the Hammer that was formed on the H4 chart up to 1.8080 resistance and then sold it off after forming a shooting star on the H4 and Daily Charts at Resistance. The 1.7810/20 is a very strong price level as you can see on the chart with the market bouncing off that level numerous times. What is important is to go where the market is going and that is what I did with this pair. To me, there is no side-way market as such as the market must go up or down from a side-way movement and just a matter of time to see whether it will break up or down from a side-way/consolidation movement. I want to see the 1.7810 level broken and close on a higher time-frame (H4/Daily) before I place another trade. If it falls from this level the next target is 1.7660. A Daily close above the 1.7810 could take us up to the resistance area’s again. However, note that the market rejected the higher high that was made on the Daily chart on Wednesday and it’s once again at the 1.7810 price level, so let’s see what it does at this level again.

GBPNZD - follow up

Source: QUEEN OF POUND

One thought on “GBPNZD – follow up on trade”

  1. Dalmas Ngetich - FOREX.TODAY says:

    Nice trade Maryna 🙂

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