Gbp/Nzd ( The 200 Day Sma Is Support)

Gbp/Nzd had a move up Friday! The move pushed down toward the end of the day! The Daily Rsi and Stochastics is still in oversold territory! Price is stalling out at the 200 Day Simple Moving Average! I actually bought on the 4 hour and took profit on the move up but now I am waiting to enter on the daily time frame! Price Action is still above the 20 day Sma on the 4 hour chart which is evidence that price could probably go straight up during the open! Do not buy yet though... you should wait for more confirmation!


My 3 take profits will be on the chart! My lot size will be very small! Like 0.02 because GBP moves really fast and anything can go wrong.
Price has room to move down before it moves up! This can be a nice idea if you trade with a really small lot size and do not allow emotion to take you out of the trade , but as this is trading...you know anything can happen at any time!