Updated

EURNZD preparing for a long term short entry

Hello Everyone, this is Richard, and this is going to be my first post in here. Hope you will like and benefit from my trading style.

EURNZD is taking the last breath before its downtrend begins, forming a high potential 1/5 Risk/Reward trade setup.

4 confluences are enough to start thinking short now:

1- Daily trendline break and retest (in red)
2- H4 trendline retest (in blue)
3- Supply zone retest (in gray)
4- RSI Divergence

Trigger would be:
1) Reversal Candlestick Pattern
2) Zoom in to H1 timeframe, draw a short term upward trendline, and enter on its break

Good Luck !

Note

UPDATE: we are still waiting for the Trigger to sell.

"Trigger would be:
1) Reversal Candlestick Pattern
2) Zoom in to H1 timeframe, draw a short term upward trendline , and enter on its break "

1) If daily candle closes like it is now as an "invested hammer" now we would have a "bearish tweezers" which is a strong trigger.
2) we are still waiting for the H1 trendline break, we will consider selling once broken.

Note

1) here is the picture of the candlestick pattern we are waiting on Daily timeframe

2) here is the picture for the trendline we are waiting on H1

Note

H1 trendline is broken, congrats for those who took a sell after the big bearish candle closed below the trendline

Now we need to watch this trouble area in yellow, as price approach it move stop loss to breakeven

Good Luck

RichTL

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RichTL