EURNZD - Monster 900pip Move Coming!
Updated
EURNZD is currently in an ABC correction. We've completed wave B and now we're in wave C. The completion of wave B can be used as a strict invalidation level for our short play.
We can use a channel to gauge the target for wave C, which happens to be the -27 fibonacci extension of wave A.
Trade Idea:
- Watch for a correction to appear
- Enter on break of correction with stops either above correction or above invalidation
- Targets: 1.745 (600pips), 1.71 (900pips)
If this setup gets enough traction, we'll make sure to send updates and let you guys know when its active!
Goodluck and as always, trade safe!
We can use a channel to gauge the target for wave C, which happens to be the -27 fibonacci extension of wave A.
Trade Idea:
- Watch for a correction to appear
- Enter on break of correction with stops either above correction or above invalidation
- Targets: 1.745 (600pips), 1.71 (900pips)
If this setup gets enough traction, we'll make sure to send updates and let you guys know when its active!
Goodluck and as always, trade safe!
Note
EURNZD 12H - We're in wave C = 5 waves. Currently in wave 2 = ABC correctionNote
EURNZD 4H - Expecting wave C soon. We have CPI in just over 30mins so expecting EURNZD to push up into our fib zone Note
EURNZD 1H - The move up (wave C) can be traded on break of this risk trendline but its risky. Safer and bigger trade will be once we complete the ABC correction for wave 2
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