GBP NZD is at monthly support

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Trade Setup


  • i) we had a long downtrend towards monthly support.
    ii) The Green lines indicate the Accumulation process on the chart. Notice that the last two bottoms are increasing. This confirms that the market might be accumulating at this point. The
    breakout through the upper level of the Accumulation range confirms the end of the Accumulation and the beginning of the uptrend.
    iii) Cureently market is in Wyckoff spring point, a perfect Wyckoff trading strategy..
    iv) we can enter long once market breakout of the green line with SL below Wyckoff spring.

    please comment if you have a better idea.

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