GBPNZD Technical Analysis 9.3.2018
GBPNZD Possible BUY/LONG Trade Setup: Since October 2016 GBPNZD has been trending higher. Traders should continue to follow the trend and look for possible signals for any buying opportunities. At the moment the pair is currently forming a possible Bullish Triangle Breakout Pattern (Blue) on the Daily chart for another possible rally higher. Price has already slightly broken above the bullish triangle pattern (Blue) and traders should wait for a pullback lower followed by a breakout higher. If looking to trade GBPNZD, traders will need to watch for the break above August 31.2018 (1.9616) high where the Bullish Triangle Breakout Pattern triggers BUYS/LONGS. As long as GBPNZD stays above 1.9067 we will continue to expect another move higher and will be watching for the pair to knock out some or all of the targets (Green) above. Be patient and let the trade come to you. If GBPNZD breaks below the blue triangle then it is possible that the trend higher has terminated and the pair will push lower.
GBPNZD Daily Chart 9.3.2018
Of course, like any strategy/technique, there will be times when the strategy/technique fails so proper money/risk management should always be used on every trade. Hope you enjoyed this article and follow me on Twitter for updates and questions> @AidanFX or chat me on Skype > EWF Aidan Chan
*** Always use proper risk/money management according to your account size ***
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