Hello
EURNZD is setting up for a Long position. Best possible risk:reward would be if price tests the trendline before entering LONG. I haven't decided on SL/TP yet but I have some ideas which will be updated here so follow if you want to get notified.
Confluence points (Also listed inside the picture):
- AB=CD
- Bullish flag
- Structure (resistance becomes support)
- Uptrend Channel
This picture shows structure that price has been respecting but in my eyes it's tested it alot and the probability for it to break is very likely. Even if price dosen't break it but retests the trendline, this zone would be TP 1.
Like & Follow if you liked it and want to see more!
EURNZD is setting up for a Long position. Best possible risk:reward would be if price tests the trendline before entering LONG. I haven't decided on SL/TP yet but I have some ideas which will be updated here so follow if you want to get notified.
Confluence points (Also listed inside the picture):
- AB=CD
- Bullish flag
- Structure (resistance becomes support)
- Uptrend Channel
This picture shows structure that price has been respecting but in my eyes it's tested it alot and the probability for it to break is very likely. Even if price dosen't break it but retests the trendline, this zone would be TP 1.
Like & Follow if you liked it and want to see more!
Note
Bullish flag Note
EURNZD is on the move. Broke channel for now and broke red zone. Let's see how it plays out. It might not retrace to Trendline at this point but a retracemenr on a key level will be a buy signal. Will keep you updated. Note
+ 300 pips right now since analysis was createdNote
I been in the trade, just executed because it wouldn't retrace. Also found additional confluence: A crab Pattern Note
Right on the SPOT :)Note
600+ pips so far
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Related publications
Disclaimer
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.