EURNZD Short Trade *TRENDLINE AND FIB COMBO*
Simple trend continuation short trade on EURNZD FX currency pair.
Price has been making lower highs on the 4hr for some time now. I am looking to take advantage of this and go short on the next rejection and lower high at the bearish trendline.
Fib 0.786 retracement level sits in that region as well.
1.66500 key level sits here and there is previous support/resistance in this area.
Stop Loss = Conservative 40 pips
Profit Target = Lower low and 1.6350 whole number
*** I will not enter until I see a nice 4hr rejection of the trendline & or Fib zone.
Price has been making lower highs on the 4hr for some time now. I am looking to take advantage of this and go short on the next rejection and lower high at the bearish trendline.
Fib 0.786 retracement level sits in that region as well.
1.66500 key level sits here and there is previous support/resistance in this area.
Stop Loss = Conservative 40 pips
Profit Target = Lower low and 1.6350 whole number
*** I will not enter until I see a nice 4hr rejection of the trendline & or Fib zone.
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