QUICK ONE! | GBPNZD (1H)

Tendency: Uptrend ( Bullish )
Structure: Harmonic | AB = CD | Support and Resistance
Observation: i. Impulse A-to-B is in harmony with the B-to-C leg.
ii. The B- to-C leg is at 61.8% Fibonacci retracement of the A-to-B leg.
iii. Price rejects 2.02000 zone forming a resistance and completing correction of AB to form C.
iv. Expected C-to-D leg is a 127.2% Fib. ext. of the A-to-B move which is also equal to the A-to-B leg in distance.
v. Price action slicing through Moving Averages to the upside on lower time frames.
Trading plan: i. BUY at DEMAND zone using adequate confirmation entry with TP1 and TP (220pips) and SL @ 1.99400/1.99100zone.
Risk/Reward: 1/4
Potential Duration: 1 to 4 days

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

Watch this space (https://t.me/nirvanaconsorts) for follow up plans as price action is been monitored.

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