GBPNZD-Direction with S/R zones
Price drop back to previous low, could be a double bottom before a strong rebound, but if price drop through this support zone, further low towards the next support zone below.
Trading the S/R Zones for 4 Hour Chart
(4 hour chart for weekly entries of buy and sell.)
Trading Rules:
All S/R Zones has power to reverse the trade, but once broken with a closing candle Support zone will become Resist zone, and Resist zone will become Support zone.
Only trade when levels in zones are touch for the first time with a 1 hour engulfing candle to confirm the reverse.
Do Not chase price, let the price come to the S/R zones before entries.
S/R levels between zones can be use as Take Profit or stop lost location.
Price drop back to previous low, could be a double bottom before a strong rebound, but if price drop through this support zone, further low towards the next support zone below.
Trading the S/R Zones for 4 Hour Chart
(4 hour chart for weekly entries of buy and sell.)
Trading Rules:
All S/R Zones has power to reverse the trade, but once broken with a closing candle Support zone will become Resist zone, and Resist zone will become Support zone.
Only trade when levels in zones are touch for the first time with a 1 hour engulfing candle to confirm the reverse.
Do Not chase price, let the price come to the S/R zones before entries.
S/R levels between zones can be use as Take Profit or stop lost location.