TRADE OF THE WEEK | Classic Price Action Trade
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.
Did you catch a bearish rally on GBPNZD?