GBP/NZD Long-Term Trend: Bearish
Key Resistance Levels: 1.92250, 1.96600, 1.99609.
Key Support Levels: 1.90225, 1.89253, 1.89000.
Daily Time Frame:
The price on the higher time frame we can see that the price is in a clear downward movement where a series of lower highs and lows has been posted. We are precisely now in the second leg down at the end of the correction. So, we can a new impulsive wave to the downside.
GBP/NZD Medium-Term Trend: Bearish
1-Hr Time Frame:
On the lower time frame, the price found sellers near the 61.80% Fibonacci retracement where it is traded inside a bearish flag formation. We expect that the market will break this pattern to the downside toward the mentioned target profits.
Sell Market Order @ 1.91635
TP 1 @ 1.90351
TP 2 @ 1.89253
Stop Loss @ 1.92060
Trade Safely 🙂
Hi Joe, how do multiple TPs work?
Hello Harry if you would like you can use either the TP1 or TP2. TP1 is more than enough. In case you need to take the risk you will use the TP2. Higher Profits Higher Risk.