GBPNZD Daily Chart (17 March, 2016)

20160317-GBPNZD

Bearish Engulfing formed at the channel resistance. Notice in the daily chart above, we have a market that is making lower highs and lower lows, this represents a descending equidistant channel. We looking for a chance to sell the pair to trade with the direction of the equidistant channel. Once the sell is trigger, we would set our target at the latest horizontal support.