GBPNZD Free Forex Trading Signals - 27th April 2017 | Buy Stop Order

GBPNZD Free Forex Trading Signals – 27th April 2017

 

GBPNZD had a bullish day yesterday. The price has been on the correction today so far. The price has produced an H1 reversal candle at an important level of support as well. This means the pair might head towards the north later today. Let us have a look at the H1 chart of GBPNZD…

 

GBPNZD Free Forex Trading Signals – 27th April 2017

Today, the price came down up to 1.85875. Then, it produced a Spinning Top and an H1 bullish candle afterwards. If the price continues to go towards the North and breaks the level of 1.86760, then the price has enough room to travel. In fact, the level of 1.87700 should be easily reachable as far as this setup is concerned.

Let us have a look at the summary of the trade…

Buy Stop Order: 1.86760

Stop Loss Level: 1.85875

Take Profit Target: 1.87700

In this trade setup, we have to remember a thing. If it takes too many candles to make the breakout, we might as well not take the entry. I mean it is going to be a Stop Order, so we should set our Expiry 3 hours maximum. If the price takes too long to make the breakout, then it might offer us an entry on ABC pattern. That would be a different ball game. Here we are looking for a breakout with good amount of liquidity. This is what attracts more traders to take an entry on a trade setup. In this case, it will attract more buyers if we have the breakout with a good amount of liquidity.

You can also take a look at our previous (and most likely profitable) Free Forex Trading Signals Here.

We hope that you enjoy our Free Forex Trading Signal today: GBPNZD Free Forex Trading Signals – 27th April 2017


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