Hi guys,
here's a simple pattern technique that's very powerful if used correctly: a flag pattern. On GBPNZD we've recently created a new low, by breaking and closing below the black line. This make me want to short this market, and therefore the next potentially selling place would be the support that's been broken. In this case, as soon as we've touched it, price fell and broke the trendline that has formed over the last hours. Therefore, i know bears came in and are now trying to create a new low.
Selling order at the blue line, stops above the highs, targets as shown.
If you have any question/idea, feel free to comment below.
Otherwise, see you in the next chart!
here's a simple pattern technique that's very powerful if used correctly: a flag pattern. On GBPNZD we've recently created a new low, by breaking and closing below the black line. This make me want to short this market, and therefore the next potentially selling place would be the support that's been broken. In this case, as soon as we've touched it, price fell and broke the trendline that has formed over the last hours. Therefore, i know bears came in and are now trying to create a new low.
Selling order at the blue line, stops above the highs, targets as shown.
If you have any question/idea, feel free to comment below.
Otherwise, see you in the next chart!