EURNZD short (breakout trade)
EURNZD short hyper trade .
The reason for the hyper trade was because there was major weekly and daily horizontal support at the 1.6230 level
The 4hr chart had been forming multiple higher highs while creating MACD divergence.
Hourly price action had formed an ascending triangle, MACD also had major divergence.
Missed a potential scale in at 1.610
Stop : 40 pips which was above the pivots R1 level
Target : 365 pips which is a horizontal support level, also is the long term 0.618 Fibonacci level
Reward : Risk = 9.12
The reason for the hyper trade was because there was major weekly and daily horizontal support at the 1.6230 level
The 4hr chart had been forming multiple higher highs while creating MACD divergence.
Hourly price action had formed an ascending triangle, MACD also had major divergence.
Missed a potential scale in at 1.610
Stop : 40 pips which was above the pivots R1 level
Target : 365 pips which is a horizontal support level, also is the long term 0.618 Fibonacci level
Reward : Risk = 9.12
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.