A couple days ago i posted an idea with a bearish
setup in the GBPNZD
. The main idea was that price is at a key resistance level
and after a sell off we had a 5 move down breaking a short term support level
. I mentioned that we should expect for an ABC
correction with C wave ending at about 0.618 of the 5 wave move.
Price is doing exactly as i predicted so i believe that we have a decent chance of trading wave C. The setup is giving us a very nice 4:1 risk/reward ratio.
Good luck to those who follow this long trade!
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