GBPNZD: FX Comment catch of 2015, 1000 pips profit so far!

GBPNZD: FX Comment catch of 2015, 1000 pips profit so far!

On May 11, we have published our first technical comment on the GBPNZD pair when it was valued at 2.0840 and we have been able to catch a saucer bottom pattern over monthly studies.

1

The confirmation for the bullish scenario was a breakout above the neckline zone and the GBPNZD succeeded in hitting 2.1065-entry point- comfortably as we discussed on May 29.

2

Today, we see the pair passing 2/3 of the 1500 pips road via flirting with 2.2050 zones achieving 1000 pips from the entry point.

GBPNZD-11-06-2015-UPDATE-FXCOMMENT

It is better now to close 50% of the position at current trading levels and move stop loss to 2.1500 which resides 450 pips above entry point.

Congrats for our followers!

Amir El Araby

Co-Founder & Chief Global Strategist at FxComment.com, with 17 years’ experience in the technical analysis studies for FOREX, Commodities and Indices. Amir El-Araby worked as a mentor for many companies and institutes, where he presented new methods for trading in the financial market. Amir is a member of ESTA (Egyptian Society of Technical Analysts). Amir is also the official partner of Harmonic Trader (Mr Scott Carney) and the official instructor of harmonic trader association for Arab countries.

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