GbpNzd Trade Setup
GbpNzd Trade Setup

Monday, 9th Docember 2019, on early Sydney Forex Markes session. A potential trading setup on GBPNZD spotted on 30 Minutes and 1 Hour Chart. Potential profit would be around 140 Pips while the safe stop would be around 35 Pips. There would be a news on GBP in the early London session that might fuel the move

GBPNZD 1 Hour Chart, courtesy of TradingView.com
GBPNZD 30 Minutes Chart, courtesy of TradingView.com

If you are familiar with Stop Hunt, Bull/Bear Trap, and such things, it was clearly visible that on that red-arrow line there was heavy institutional manipulation, see the spike in the volume: bull trap triggering buy stop, followed by stop hunt to the low which was two equal low (lots of stop sitting there) which at the same time triggering sell stop, then quickly move bullish. If the institutions have grabbed liquidity, then they will maintain the price above the red area. They will visit the gold line to mitigate the money they use to drive the price down right on the last red-candle.

I will wait for the price action around the gold line and see if the Price Action confirms the setup. If the pullback to the gold line occurred in the early London session today, then I will consider the pullback as one context with the reversal up. then I will need only a reversal candle as my trigger long

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