🔸Hello traders, let's review the 2 hour chart for GBPNZD.
Speculative XABCD in progress, with PRZ/D set at 2.1100,
so expecting more losses in GBPNZD before reversal from PRZ/D
🔸XABCD structure is defined by point X at 1155, point A at 1330, point B
at 1200, point C at 1360, point D/PRZ at 1100, currently most points validated, point D/PRZ still pending, so traders should wait until we hit D before buying.
🔸Recommended strategy for GBPNZD traders: wait for pullback/correction
to complete at point D near 1100, buy/hold, SL 80 pips, TP1 +175 pips TP2
+250 pips. BUY/HOLD at point D/PRZ at 1100. swing trade setup. good luck!
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