GNPNZD SHORT BREAK AND RETEST TRADE SETUP

22 May 2017

Hi Traders:

GBPNZD is in my weekly analysis/outlook, and today there might be some opportunity to short if the price action pulls back to a desire entry.

GBPNZD finally broke down daily support after many days of consolidations, now the 4 hr chart broke down support trend line. Waiting for a pullback, lower high to confirm bearish trend change before enter the short position.

Target 1: 1.8460 (3.43% Profit)
Target 2: 1.8300 (5.71% Profit)

Thank you for your support and feedback.

22 May 2017

Not

Daily chart key resistance line/zone @1.8800. Good bearish engulfing could indicate a strong bearish momentum for the price action. Wait for intraday's price action to firm lower high before entering.