Watch the reverse on GBPNZD!

11 giu 2020

As you guys can see very clearly, Now we are on a important weekly zone, I waited for a candlestick formation to let me understand what the market wanted to do and I saw this:
A beautiful reversed head & shoulders as well as a rounded bottom. I will watch the closing of the candle on the 4h time frame: if it closes above the resistance that I draw I'm gonna go long, on the momentum candle with a stop loss right under the right shoulder and the take profit on the next possible target. This trade will give me a risk reward of 1.55, that satisfy my trading plan.

Now I would like to hear from you.. do you have any impressions? Please let me know what you think in the comments section!