GBPNZD Possible BUY/LONG Trade Setup
GBPNZD is forming a bullish inverted Head and Shoulders pattern. Price has already broke above the neck line which can be a signal that possibly more bulls will be entering LONGS and can start pushing the pair higher. Traders should watch for a good strong break above the green BUY breakout trend line. A good break above this level will send GBPNZD higher and can extend possibly to newer highs above the February 8/2018 daily high. If looking to BUY GBPNZD look to buy on a break above 1.9060 with Stop Loss at 1.8948 which is the low of the right shoulder. If price moves lower and stops the trade out then GBPNZD will definitely extend lower but as long as 1.8948 holds then a rally higher can be strongly possible. Only time will tell what the pair will do but as for now I remain bullish until otherwise. Trade what you see and squeeze the trigger if and when you see GBPNZD start to move higher. Trade safe.
GBPNZD 30 minute chart 2.20.2018
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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