EURNZD, Daily, a structure trade.
Some might allready have taken a trade on the previous test of the structure forming this consolidating zone of range bounde movement.
I did not, for reasons not having to do anything with the setup, and therefore (following my plan) I´m waiting for a new setup.
We might not see a complete doubletop so a entry just below, from this ongoing pullback, after a candlestick confirmation or likewise
might become a trigger point. With a double top we will probably also see RSI Divergence as another confirmation.
SL just above the structure and at least a target down at a structure that has been a proven turningpoint several times, even though the
"zone" bottom is lower. A second position could be at that bottom or a trailing stop - looking for the bottom to break.
Allthough, my bias is bullish, since we have a bullish trend and this is a typical bullish flag - so I´m holding my targets within the zone.
I did not, for reasons not having to do anything with the setup, and therefore (following my plan) I´m waiting for a new setup.
We might not see a complete doubletop so a entry just below, from this ongoing pullback, after a candlestick confirmation or likewise
might become a trigger point. With a double top we will probably also see RSI Divergence as another confirmation.
SL just above the structure and at least a target down at a structure that has been a proven turningpoint several times, even though the
"zone" bottom is lower. A second position could be at that bottom or a trailing stop - looking for the bottom to break.
Allthough, my bias is bullish, since we have a bullish trend and this is a typical bullish flag - so I´m holding my targets within the zone.
Henrik Siverhall
SMC Trading
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SMC Trading
Är du intresserad av vårt mentorskap - "Basic" och "Avancerad" mentoring.
smctrading.se
Sveriges största FB grupp för nybörjare
bit.ly/ptse-fb-basic
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