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iwynne

GBPNZD SHORT ON THE DAILY

Short
British Pound / New Zealand Dollar (FX:GBPNZD)  
iwynne  
FX:GBPNZD   British Pound / New Zealand Dollar
Support and Resistance Fibonacci Trend Lines fibsdontlie fibspaysthebills keepitsimple
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supportandresistance fibonacci trendline fibsdontlie fibspaysthebills keepitsimple
Reasons for the trade:
1. BROKE OUT OF THE DAILY TRENDLINE ( market reversal)
2. Created a new lower High
3. Major rejection in the area on the Weekly Timeframe ( a lot of wicks on top of candles on the weekly)
4. Wait for pullback and rejection on lower timeframe to enter position
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