GBPNZD - POTENTIAL SWING TRADE

5 feb 2018

Potential Short opportunity

• - Lower high on falling trendline lower high relative to December 1st 17 high
  
• Test of trendline is overbought daily Stochastic (14,3,3) confluent with 6th december 17 low (green eclipse) turning resistance with double top, also corresponding with 618% retrace from previous swing high
  
• ABC correction seemingly complete
  
• Thursday candle formed shooting star with Friday candle closing higher albeit inside thursday candle - consolidative, breakout pending
  
• 4HR candle breakdown of Friday: At triangle resistance we saw Tweezer top, spinning top, hanging man followed with a bearish closing candle for the week. On monday price continued to consolidate with a further shooting star, testing triangle resistance and another shooting star forming LH on tops - BEARISH risks considerable! Price then broke down towards triangle support
  

6 feb 2018

Trade chiuso manualmente

6 feb 2018

Nota

280 pips trade closed