GBPNZD TRADE RECAP | +0.22%

4 mag 2019

Initially, buyers were not able to push price above a value area high. That gives us a "bearish narrative" going into the session. Entry was a bit too early and as a result we were in the red for some time. But the bearish narrative was confirmed later on as buyers tried to break higher again but failed for a second time. This was confirmation to hold the trade and maybe we would see a break of support. Sure enough support broke and we took a 20 pip move, moved our stop to entry point and let the market take us out as buyers stepped in.