EURNZD Chart Analysis: 1. Dow theory- HH-HL 2. Bullish engulfer 2hrs ago 3. False breakout at Fib Retracement level 0.23 4. weekly support line at 1.644, close to fib 0.38 level 5. AB=CD pattern
BIASED LONG
Watch out level (breakout at 1.6442 support level) OR Fib 0.38
Plan A Take entry right now at 1.6523 SL at 1.6438 or at fib level, right below the support line
Plan B Wait for further confirmation of the false breakout at fib 0.23 level, Take entry at 1.6566 TP1 at point B=1.6625 TP2 at point D SL, in this case, should be right below at point C or at the support level
Please like, share, and comment if you agree. Disagree, any suggestions? Welcome 24/7
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.