EUR-NZD
Cập nhật
New Zealand Dollar has been one of the strongest pairs of the Forex market recently.
As you can see on the chart euro has been under performing NZD since late March.
Back in March it made a descending triangle top and broke it to the down side.
Since then it has been trading in a trading range between 1.825 ish which was the previous support of the topping formation and the support of the new range at 1.76 ish which bounced the price few times.
However it looks like it has made a continuation head and shoulders inside the range ( yes they can be continuation patterns as well :) ) and completed the formation by a break below its support few days ago. Target of the H&SH is around 1.7 .
A pull back to the previous support zone should be a good entry for a short trade. Because the zone should act as resistant now.
The first support zone below the price is around 1.715.
This trade idea has 2.5 risk to reward ratio.
As you can see on the chart euro has been under performing NZD since late March.
Back in March it made a descending triangle top and broke it to the down side.
Since then it has been trading in a trading range between 1.825 ish which was the previous support of the topping formation and the support of the new range at 1.76 ish which bounced the price few times.
However it looks like it has made a continuation head and shoulders inside the range ( yes they can be continuation patterns as well :) ) and completed the formation by a break below its support few days ago. Target of the H&SH is around 1.7 .
A pull back to the previous support zone should be a good entry for a short trade. Because the zone should act as resistant now.
The first support zone below the price is around 1.715.
This trade idea has 2.5 risk to reward ratio.
Ghi chú
Ghi chú
This hammer candlestick with followthrough under the resistance was an excellent entry for this trade.There is also a continuation divergence ( hidden bearish) between this swing and the previous small swing at 1.756.
Ghi chú
Ghi chú
good follow-through so far.Ghi chú
Ghi chú
It's about to hit the first profit target. I'm going to take some profit off there and leave the rest of the position to reach the full measured move of the H&S with a trailing stop.Ghi chú
Ghi chú
Bounced from the support zone, still nothing serious it will probably end up being a lower high.Đóng lệnh: đạt mục tiêu
Ghi chú
+2R
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