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UnknownUnicorn32021811

GBPNZD Nice risk/reward ratio

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Paun British / Dolar New Zealand (OANDA:GBPNZD)  
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OANDA:GBPNZD   Paun British / Dolar New Zealand
Trend Analysis Support and Resistance Trend Lines GBPNZD short riskreward
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trendanalysis supportandresistance trendline gbpnzd short riskreward
Some pretty strong resistance in the 1.89830 price region for GBPNZD . This has been further supported by a consistent down trend throughout March (red trend line).
Komen:
Both currencies are expected to trade sideways (based of fundamentals), so its fairly likely the resistance will hold
Komen:
I'm waiting for the 4H candle to close (in 12 minutes) before I open a position
Komen:
Selling at 1.89590
SL: 1.89930
TP: 1.88200
Dagangan aktif:
Pretty trash entry price because I waited for the 4H candle, but lets see how the trade plays out and just learn from it
Komen:
Resistance broke, also should have entered earlier to reduce loss
Komen:
After reviewing the trade, I think drawing the red trendline was a mistake because a new high wasn't confirmed. I should have also entered the trade earlier to minimize losses. However, I remain bearish on this currency pair.
Komen:
Might enter a short position if we get a bearish engulfing candle
Penafian

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