• Vasily Trader

TRADE OF THE WEEK | Classic Price Action Trade

Hey traders,

Here is a great confirmation top-down trade that I caught on GBPNZD this week.

Being very bearish biased on the pair, I was monitoring the pair for quite a while. I was looking for shorting opportunities within a wide weekly/daily supply cluster.

After weeks of passive observing, I finally spotted multiple confirmations:

The price broke a rising channel on 4H time frame.

My entry reason was a double top formation on an hourly and its neckline breakout & consequent retest were the triggers.

Then the market dropped sharply giving me 250 pips of pure profit and 4/1 risk to reward.

Great trade!

Did you catch a bearish rally on GBPNZD?