Very basic long trade idea.
Entry on bottom of the channel, exit TBD
Entry really depends on when/where it hits the bottom of the channel. (~1.84 area)
Exit at the top: ~1.87-1.88
SL: 100 pips below the channel bottom.
Very minimal risk on this trade.
Hello,
IS THIS TRADE APPLICABLE FOR THE PRESENT WEEK 20TH TO 25TH ?
Hello,
IS THIS TRADE APPLICABLE FOR THE PRESENT WEEK 20TH TO 25TH ?
Read more: 301 Moved Permanently
Yes I would say it is.
Even though it did break through the upper channel, it did come back down nearly 200 pips.
I’d say there is a chance of this pair bouncing back off the bottom of the trend line to retest the high of 1.885. I also think there is the chance of the bottom of the channel to break. This pair now is looking to the very important data to come out of GBP early Tuesday PST.
Strong data will most likely shoot this pair up to the highs and weak data could see this pair tumble. But I don’t see this pair sliding to far on poo GBP data as the NZD is becoming weak alongside the AUD.
As of right this second I am Long. @ 1.850
Tight SL at 1.849
Looking for profit at the top of the channel which could be 1.9, but If the pair can’t advance past the high of 1.882 I will TP there.
GBP/NZD is one of my favorite low volume trading pairs…
