EUR/NZD Long pos High Probability Trade 1 : 10 Risk to Reward
Explanation : This is a long term swing trade that will conclude in about 3 weeks. It show cases 5 confluences which are stated below for clarification.
Confluence 1 :Bullish Trend line on the Daily Chart
Confluence 2 :New Found Minor Support line dating back from 21st December 2018
Confluence 3 :Fibonacci Retrace showing the aligning of the 61.8% position together with confluence 2
Confluence 4 :Historical Minor Resistance dating back from 2 November 2018
Confluence 5 :Awaiting Retest at Buy Limit 1.67725 together with the appropriate hammerhead candlestick
Details as follows :
Entry : 1.67725 Buy Limit
Take Profit 1 : 1.71930 ( 50% point as per historical resistance)
Take profit 2 : 1.78000
Stop Loss : 1.66700
Risk : 280
Reward : 2048
Confluence 1 :Bullish Trend line on the Daily Chart
Confluence 2 :New Found Minor Support line dating back from 21st December 2018
Confluence 3 :Fibonacci Retrace showing the aligning of the 61.8% position together with confluence 2
Confluence 4 :Historical Minor Resistance dating back from 2 November 2018
Confluence 5 :Awaiting Retest at Buy Limit 1.67725 together with the appropriate hammerhead candlestick
Details as follows :
Entry : 1.67725 Buy Limit
Take Profit 1 : 1.71930 ( 50% point as per historical resistance)
Take profit 2 : 1.78000
Stop Loss : 1.66700
Risk : 280
Reward : 2048
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.
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.