Long Setup on EURNZD
Updated
Hi guys,
on EURNZD we're testing a key daily structure area (yellow box-black line) that also coincides with a psychological number (1,54). This is important for me because it tells me we could see a reversal down on a lower timeframe such as the 4H (the chart that you see): in this case, if you zoom in you can see why am i interested in this. There's a long pin that signifies buying pressure along with a current engulfing candle that shows some buying power right at the D point of an AB=CD pattern (with RSI divergence). All these clues together (if confirmed) give me the confidence to take this long, with stop below the lows and targets with structure. I believe on the daily chart the overall trend is upward, so it could bring us some nice profits.
Let's see.
If you have questions or ideas to share, feel free to comment below.
Otherwise, see you in the next chart!
on EURNZD we're testing a key daily structure area (yellow box-black line) that also coincides with a psychological number (1,54). This is important for me because it tells me we could see a reversal down on a lower timeframe such as the 4H (the chart that you see): in this case, if you zoom in you can see why am i interested in this. There's a long pin that signifies buying pressure along with a current engulfing candle that shows some buying power right at the D point of an AB=CD pattern (with RSI divergence). All these clues together (if confirmed) give me the confidence to take this long, with stop below the lows and targets with structure. I believe on the daily chart the overall trend is upward, so it could bring us some nice profits.
Let's see.
If you have questions or ideas to share, feel free to comment below.
Otherwise, see you in the next chart!
Note
Still not entered, waiting for a confirmation.Note
Entry: 1,5448Trade active
Trade closed: stop reached
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