GBPNZD | 1H Timeframe | Bearish Divergence ahead of AB=CD Patter
- Bullish Trend Continuation observed with no sign of divergence
- Within the trend a AB=CD pattern can be formed, with provides a possibility of trend reversal at D
- I would take entry through placing a Buy Stop order a little above point B with cautious risk management through SL (a little below C) to avoid false break outs
Lot Size - 0.17
Entry (Buy Stop - 1.99310
Stop Loss - 1.98386
Take Profit 1 - 2.00233
Take Profit 2 - 2.01155
- Within the trend a AB=CD pattern can be formed, with provides a possibility of trend reversal at D
- I would take entry through placing a Buy Stop order a little above point B with cautious risk management through SL (a little below C) to avoid false break outs
Lot Size - 0.17
Entry (Buy Stop - 1.99310
Stop Loss - 1.98386
Take Profit 1 - 2.00233
Take Profit 2 - 2.01155
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.