MARKET PHASE
GBPNZD
is in a long term uptrend (daily) with a short term corrective structure that has been taking place (4 hour).
AREA OF VALUE
There was a buildup of liquidity (sell stops, shorts, long order stop losses) below the corrective structure swing lows. Price violently moved down to trigger the sell stops (liquidity) to pair against the buy orders needed to take price up. Price has now started it’s initial move up but due to the velocity of the upward move, it's gapped orders around 2.09770. Price may retrace back to this level to meet the demand as we expected. Once price reaches this level, we can expect a strong push upwards in the direction of the larger trend.
TRADE
I will be entering long on
GBPNZD
with the following parameters:
Buy Limit: 2.09770
Stop Loss: 2.09360
Take Profit: 2.10590
GBPNZD
is in a long term uptrend (daily) with a short term corrective structure that has been taking place (4 hour). AREA OF VALUE
There was a buildup of liquidity (sell stops, shorts, long order stop losses) below the corrective structure swing lows. Price violently moved down to trigger the sell stops (liquidity) to pair against the buy orders needed to take price up. Price has now started it’s initial move up but due to the velocity of the upward move, it's gapped orders around 2.09770. Price may retrace back to this level to meet the demand as we expected. Once price reaches this level, we can expect a strong push upwards in the direction of the larger trend.
TRADE
I will be entering long on
GBPNZD
with the following parameters: Buy Limit: 2.09770
Stop Loss: 2.09360
Take Profit: 2.10590
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