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GBPNZD Triangle Pattern And Trade Opportunity

GBPNZD Triangle Pattern And Trade Opportunity

GBPNZD trading in a triangle.

A potential bearish butterfly pattern on the M30 Chart

First : Long Trade @ 1.92950

Recommended Lot: 0.20 at 10K

Stop Below: 1.92600

Target: 1.93580 / Reached

I will update later. If it breaks the triangle we will add long or we will look for a short opportunity based on bat pattern.

Please note: GBPNZD is very volatile pair. Keep your risk low.

Update: Target Reached. We book partial profit and move the stop loss to entry.  We will wait for the breakout of the triangle to add long.

Triangle breakout: Our first target 1.94700… Wait for my call to add long.

Warning and Things to Pay Attention:

  1. Harmonic Patterns are reversal patterns and mostly against the main trend on the chart they appear.
  2. Target levels are determined by MM Calculation as the pattern has not been completed yet. They may vary 3-5 pips according to the completion level of the predicted patterns.
  3. Pay attention to Time Frame, Trade Period and Estimated Completion Time, Accuracy and Recommended Lot Size clauses mentioned below.
  4. Do not risk more than 2% in one trade setup.
  5. We usually book partial profit at the first target and move our stop loss to entry or break-even level. Use your own risk/profit management to exit the trade.
  6. We are publishing potential opportunities. There are no certainties and traders bets on possibilities. Read the setup carefully before entering a trade and take your own decision.

VERIFIED ACCOUNT AND SETUP RESULTS

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DISCLAIMER: This is a technical analysis study, not advice or recommendation to invest money

GBPNZD Triangle Pattern: Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these securities. You should do your own thorough research before making any investment decisions. Chartreaderpro does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Forex involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility

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