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Eurnzdsell

EUR/NZD Potential Sell SetupAfter a through analysis, I have found out a potential shorting opportunity for EUR/NZD. We should wait for a pullback before we sell. The pattern which is actually looking like a Head & Shoulders (SHS) is actually called a "King's Crown" . A SHS is called a "King's Crown" when the left bottom is taken out by the right bottom. You can start selling @ right shoulder of this pattern while you had to wait for breaking the neckline of the SHS. In this setup, our right shoulder is @ 61.8% Fibonacci Retracement level and I hope the Stoch RSI will also turn "Over Bought" when we'll reach our selling zone. Trade Safe :) Follow Me on: Twitter Like Me on: Facebook
Short
by tanvirankurs
Breakout on EURNZDHi guys, this time i choose to use this layout so that you can better undestand the thought process behind this opportunity. As you can see on the left (daily chart) in the past weeks price has been consolidating between 1,520 and 1,545. However, last thursday, price has broken to the downside with a big bearish candle followed by another candle closing below it. Therefore, now i'm waiting to see some weaknesses so that i can short at this level that is what previously was support and now could turn into resistance. I'll keep you updated. The potential to the downside is very big. If you want to share your view, or simply ask questions, feel free to comment below. Otherwise, see you in the next chart!
Short
by Roker1
Breakout trade on EURNZDHi guys, this time i choose to use this layout so that you can better undestand the thought process behind this opportunity. As you can see on the left (daily chart) in the past weeks price has been consolidating between 1,520 and 1,545. However, last thursday, price has broken to the downside with a big bearish candle followed by another candle closing below it. Therefore, now i'm waiting to see some weaknesses so that i can short at this level that is what previously was support and now could turn into resistance. I'll keep you updated. The potential to the downside is very big. If you want to share your view, or simply ask questions, feel free to comment below. Otherwise, see you in the next chart!
Short
by Roker1
2
EURNZD: Awaiting Confirmation to SellApart from the yen, I don’t trade currency crosses very often. The price action can be choppy, and the spreads can sometimes be problematic if you aren’t careful. However, if used sparingly, a cross like the EURNZD can offer opportunities where the potential reward is well worth the risk. Last week’s move may have given us one such opportunity. Within the first 48 hours of activity last week, the pair traded to a high of 1.5483. The last time the Euro cross hit this mark was during the U.S. elections spike on November 9th of last year. From the intraday charts, it looked as though buyers were determined to push prices even higher. But by the March 28th close, those same buyers had retreated in a way that they carved out a bearish pin bar from the 1.5450 resistance area. The next three sessions were met with enough selling pressure to rechallenge 1.5215 support. In fact, Friday appears to have broken this level, which was instrumental in triggering the March 21st advance. But there is one important question that needs answering before I’ll be ready to call this a confirmed setup. Did last Friday break support at 1.5210? If it did, we should see today’s session close (5 pm EST) below this area. If on the other hand, the pair closes today back above 1.5210, I’ll stand aside to see what comes of the next 24 to 48 hours. One reason I need additional confirmation is that Friday was the last day of March as well as the end of the first quarter of 2017. For the uninitiated, the price action from these sessions can sometimes be unreliable, particularly when it lands on a Friday as volume tends to dry up. As always, I’m in no hurry to trade the pair. But with more than 200 pips to the next key support at 1.50, the EURNZD is certainly one I’ll continue to watch.
Short
by Daily-Price-Action
Two harmonic patterns on the way to complete!Hi guys, here we are on EURNZD and on the 4hr chart we're going through a period of consolidation. As you may know, in this kind of scenarios, harmonic patterns appear very often. On the chart above there's a Gartley and a Bat completing at the same level. If you're a pattern trader you should take this. Stops above X, targets as usual for patterns. If you want to share your viewpoint or ask questions, feel free to comment below. Otherwise, see you in the next chart!
Short
by Roker1
EURNZD has to decide where to go! Will it break or will it hold?Hi guys, just wanted to let you know that i'm watching attentively to this pair, since price is testing a very important structure level that acted as support and resistance many times in the past. As of now, i'm looking for weaknesses in order to short the market: notice that we're deeply in overbought condition and price is testing a psychological number (along with structure) so any other candlestick signal would make me sell at market. Nonetheless we should be ready to change our mind if price breaks the structure yellow zone so that we can take advantage of both the situations. Never be unprepared! Think ahead! I'll keep you updated. If you want to share your standpoint, feel free to comment below. Otherwise, see you in the next chart!
Short
by Roker1
Decision point on EURNZD! Up or down?Hi guys, just wanted to let you know that i'm watching attentively to this pair, since price is testing a very important structure level that acted as support and resistance many times in the past. As of now, i'm looking for weaknesses in order to short the market: notice that we're deeply in overbought condition and price is testing a psychological number (along with structure) so any other candlestick signal would make me sell at market. Nonetheless we should be ready to change our mind if price breaks the structure yellow zone so that we can take advantage of both the situations. Never be unprepared! Think ahead! I'll keep you updated. If you want to share your standpoint, feel free to comment below. Otherwise, see you in the next chart!
Short
by Roker1
2618 on EURNZDHey guys, this evening i'd want to share a setup that i will closely look at in the next few hours and probably on Monday opening. This is a 2618 trade that's forming on EURNZD. If you're not familiar with this kind of formation, it basically consists in selling/buying the 618 retracement of the leg that breaks the double top/bottom's neckline. Essentially it should be a conservative way to trade double top/bottom after the confirmation of the reversal (break of structure). This analysis also aligns pretty well with higher timeframe analysis: on the daily price has created a new structure low (bearish trend confirmation) and it's now back retesting a 4hr structure level (black line) that could stop the price's rally and starts the new downtrend movement. This is what i look for when trading: additional higher timeframe confirmation! It's very important to have bigger perspective. That's why i'd split my position in two parts in order to follow the bigger trend in case i'm right. The first position should be taken at the retest of the new low. Stops above the highest high. If you have any question, feel free to comment below. Otherwise, see you in the next chart! Have a good weekend!
Short
by Roker1
Cypher pattern on EURNZDHey guys, another advanced pattern formation i'd like to share with you today. As usual, my analysis starts from higher timeframe: the black line represents a daily structure level that's just been broken to the downside by priceaction. Being that, i know i expect a bearish continuation to the south and i want to get involved in short trades if i can. This harmonic pattern, called Cypher, allows me to do so, therefore i'm setting my orders up. Stops above X, targets at .328 and .618 retracements of AD leg. Good luck! If you want to share your standpoint or just ask questions, feel free to write below. Otherwise, see you in the next chart!
Short
by Roker1