GBPNZD | 1H TIme frame | PRZ for a Bearish Reversal
- Bullish Trend Continuation observed with no sign of divergence
- Within the trend a AB=CD pattern can be formed, with provides a possibility of trend reversal at D
- I would take entry through placing a Buy Stop order a little above point B with cautious risk management through SL (a little below C) to avoid false break outs
Lot Size - 0.17
Entry (Buy Stop - 1.99310
Stop Loss - 1.98386
Take Profit 1 - 2.00233
Take Profit 2 - 2.01155
- Within the trend a AB=CD pattern can be formed, with provides a possibility of trend reversal at D
- I would take entry through placing a Buy Stop order a little above point B with cautious risk management through SL (a little below C) to avoid false break outs
Lot Size - 0.17
Entry (Buy Stop - 1.99310
Stop Loss - 1.98386
Take Profit 1 - 2.00233
Take Profit 2 - 2.01155