EURNZD looking for a retracement next week.
The market structure of EURNZD has been a downtrend. In order to maintain this structure it would need to be equal or less than the previous low (+/- some) We have hit a 4H wall up at the top with a line of indecision and our new 4H candle has been started under this level. Since it is Friday (sweetness!) This would not be that wise to open a very long term order like the one I am going for (big money big money!) because of that weekend jump (which sucks).
Still not sure why we can't trade on weekends but the market changes... I mean I know why, but it is kind of messed up yo! I do wish more people would trade BTC on the weekend so I have some more volume to work with!
After that quick intermission, the 4H chart now shows a Fibonacci retracement for this latest move. I placed the bottom at the last low's candle base, and the top and this past candle top, If this goes well, we can get some nice 4H shorts in there as well as a few possible longs on the PRZ levels (going to use much shorter time frame for those entries though) and snag 10-20 pips on each of those reversals... AND I WILL NOT ADD-ON ORDERS TO A RETRACEMENT
I WILL NOT ADD-ON ORDERS TO A RETRACEMENT
I WILL NOT ADD-ON ORDERS TO A RETRACEMENT
I WILL NOT ADD-ON ORDERS TO A RETRACEMENT
I WILL NOT ADD-ON ORDERS TO A RETRACEMENT
Now that I have written it out on the chalk board several times, maybe I'll stop burning myself by doing these greedy orders.
Have a great weekend and lets watch EURNZD go down! (also NZDCHF long)
Still not sure why we can't trade on weekends but the market changes... I mean I know why, but it is kind of messed up yo! I do wish more people would trade BTC on the weekend so I have some more volume to work with!
After that quick intermission, the 4H chart now shows a Fibonacci retracement for this latest move. I placed the bottom at the last low's candle base, and the top and this past candle top, If this goes well, we can get some nice 4H shorts in there as well as a few possible longs on the PRZ levels (going to use much shorter time frame for those entries though) and snag 10-20 pips on each of those reversals... AND I WILL NOT ADD-ON ORDERS TO A RETRACEMENT
I WILL NOT ADD-ON ORDERS TO A RETRACEMENT
I WILL NOT ADD-ON ORDERS TO A RETRACEMENT
I WILL NOT ADD-ON ORDERS TO A RETRACEMENT
I WILL NOT ADD-ON ORDERS TO A RETRACEMENT
Now that I have written it out on the chalk board several times, maybe I'll stop burning myself by doing these greedy orders.
Have a great weekend and lets watch EURNZD go down! (also NZDCHF long)
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.