GBP/NZD Idea

17 Mei 2017

Continuation to a newly established uptrend. I will be watching price over the upcoming days (and possibly weeks) to see how this pair reacts at these levels. If lower highs and lowers lows are established, it would be a great time to hop in and ride the counter-trend trade. We can wait until the 61.8 retracement or whenever price makes new higher highs and higher lows to get back in with the macro trend. Price hasn't officially halted as of yet, so we should initially wait for the beginning of the retracement since the pair can keep shooting up for as long as it wants. I'll monitor minor trend-changes that I previously mentioned on lower time frames such as 4-hour and 2-hour.