GBPNZD Bear Flag Pattern

GBPNZD is moving into a rising channel better seen at a higher timeframe. I has bounced from its upper parallel moved down sharply and it's now consolidating. We should watch for a breakout below the consolidation and sell GBPNZD aiming the lower trendline of the channel.

Rising channel

P.S: Take a minute and read my post of "1001 pips project". You may find the link below..

Kommentar:

Price broke below the corrective structure...

Kommentar:

Simple, clean patterns work wonders, just like this one..

Kommentar:

Price has broken belowe the channel.. For those who are still in this trade, we should wait for a pullback probably to the lower bond of the broken channel and then price could drop once more.. Manage this trade wisely to make this setup a big one..!

Kommentar:

No fancy setups needed in order to be profitable in the markets.. This simple channel has given as profits to recover from 15 losing trades..!