Short

EUR / NZD - Quick opportunity for this downtrend - SHORT

Updated

Ascending triangle in a downtrend, below the moving averages, falling volume, flat RSI on this timeframe, long rejection wicks on the hourly timeframe, seriously weak Euro and NZD after last nights report, but whose going to be weaker, I choose the Euro, in the down trend.

Note

We've broken down through the descending triangle bottom, we'll carry on beyond 1.697

Trade active

Trade active and profitable - 21/05/2018 - 04:25 @1.7042 - target 1.6105

Note

Look at those candles rejecting the moving average and lots of heavy bearish volume, we're going down! Beautiful

Note

We're currently stuck in a range, if you're not in this trade, catch an entry at the top, and wait for the breakout, to continue the downtrend, how do I know it will continue down?

We're divergent on the daily chart and volume is declining on the way, meaning we have a bearish bias and that's the direction we're going in, but obviously, we might now, anything can happen, once we break to the downside, I'm looking for my first target down at 1.69650

Trade closed: target reached

Taken profit target, I'll let the rest run....

Trade closed: target reached

Second target achieved, this turned into a lovely trade

Trade closed: target reached

Final target achieved.

Note

Re-entered this pair @1.68 a lovely move down afterwards

Note

Smashing through the 200 EMA was an important breakthrough, target now 1.62

Trade active

Trade closed: target reached

Made a lot of profit on this, target achieved

CBMotivation

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