Awaiting Short opportunity on EURNZD
PAIR IN FOCUS: EURNZD
ACTION: SHORT
This is a counter-trend setup, and will take some time for it to play out.
EURNZD has been in a rising wedge pattern for the past 3-4 months, constantly retesting the upper and lower bounds of the pattern.
Waiting for price to once again reach the UPPER bound and retest it (Entry Zone), and expecting price to rebound from there till the lower bound again (TP Zone).
The Entry Zone, TP Zone and Stop Loss have been indicated on the chart.
ACTION: SHORT
This is a counter-trend setup, and will take some time for it to play out.
EURNZD has been in a rising wedge pattern for the past 3-4 months, constantly retesting the upper and lower bounds of the pattern.
Waiting for price to once again reach the UPPER bound and retest it (Entry Zone), and expecting price to rebound from there till the lower bound again (TP Zone).
The Entry Zone, TP Zone and Stop Loss have been indicated on the chart.
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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.