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GBPNZD Trade Idea Short and Long Update

Support Breakout and Bullish Cypher Update: Short Trade Reached The Target - 110 Pip - and Long Trade is Valid

Support Breakout and Bullish Cypher

Trade Setup No: CUGBNZ022801

CURRENCIES

INSTRUMENT: GBPNZD

CHART TIME FRAME:H1

PATTERN / INDICATOR: Support Breakout and Bullish Cypher

PROJECTED PRICE ACTION: GBPNZD is testing the support. If Breaks and close below the support – 1.91000 – it will complete the D leg at 1.89600 ( Bullish Cypher Harmonic pattern.

We have 2 trade opportunities:

TRADE: SHORT

Area Of Entry: Closing below 1.91000

Stop Loss 1.91500

Take Profit 1:1.90500

Take Profit 2: 1.89700

And LONG trade

TRADE: LONG

ENTRY: 1.89700

SL: 1.89200

TP1: 1.90500

TP2: 1.91200

THE SETUP WOULD BE VALIDATED WHEN THE PRICE MAKES 2 HOURLY CLOSING BELOW 1.91000 SUPPORT. 

Update:

Short Trade Reached The Target – 110 Pip – and Long Trade is Valid

 

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