GBPNZD Pin Bar Formed At Support Resistance Line
Pin bar formed at support line. Enter Trade at the nose of pin bar. Place stop loss below the pin bar tail. Or place stop loss using 50% retracement of pin bar for better risk to reward ratio. Target price is the next resistance line (ceiling).
Commentaire:
Pinbar retraced at the 0.618 Fibonacci Retracement level area. This is another variable for confluence.