GBPNZD Forecast and Trade Setup for 20th March, 2014
GBPNZD Forecast and Trade Setup for 20th March, 2014
Hourly Chart
Both charts is H1, (One with Pattern drawn in one without)
- We are trading into resistance, and with Price action performing minor pin bars, I was not too convinced to take a short due to the recent bullish momentum
- And the fact that price has been sitting around this area, is not appealing to me for a short
- I'd be more intended to short it at the confluence of the 78.6fib and 161.8fib ext and a trend line which also can be a bat pattern
- Stochs will also diverge if so
Outlook Trade opportunity
Short at 78.6Risk Level Medium
Tips -
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