13 Jun GBP NZD Swing Long Set-Up
I really like the look of this one.
5 Reasons why price will bounce from 1.9850 region.
- Trend line back test from previous break-out.
- A precise retest of the break-down level from the 2011 triangle
- 50% Fib retrace
- 100 MA
- 200 MA
And all of this on the DAILY time frame.
You could also argue that it’s a bullish Inverted Head and Shoulders pattern, though this isn’t confirmed as yet, and this particular pattern specific to this chart is one that could remain symmetrical, i.e, the right side of the chart continues down in a similar way to the rise on the left side of the chart.
Nonetheless, it’s a trade I’m interested in and I will be watching smaller time frames for a low risk entry in the 1.9850 region.