OPPORTUNITY | GBPNZD(4H)

Tendency: Temporary Downtrend ( Bearish )
Structure: Support & Resistance| Descending Channel
Observation: i. Channels formed from two negative sloping trendlines at the resistance and support levels indicating a bearish trend.
ii. Flat channel (indicated on chart with green eclipse) breakout confirms the descending channel.
iii. Price action below Moving Averages on the lower time frames.
Trading plan: SELL with TP @ 400pips and SL @ 2.03000/2.03500 zone.
Risk/Reward: 1/3.2
Potential Duration: 3 to 7 days

** Please note that Stop Loss is subject to individual risk appetite per trade and account size.

Watch this space for updates/follow-up on lower time frames as price action is been monitored.


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