EURNZD Pullback to support, long idea
Updated
Hy traders!
EURNZD price action goes according to my trading plan and is for now performing a Pullback after the recent breakout. At the moment price is near a strong support and the 0.5 and 0.618 Fib levels with a good chance that price could reverse from there and continues the rally to the upside!
Consider to wait for the 5min trendline to break, before entering a position! (Nice RRR from 1:2+!)
Comment, like and engage. I am happy to answer any questions!
Good luck!
EURNZD price action goes according to my trading plan and is for now performing a Pullback after the recent breakout. At the moment price is near a strong support and the 0.5 and 0.618 Fib levels with a good chance that price could reverse from there and continues the rally to the upside!
Consider to wait for the 5min trendline to break, before entering a position! (Nice RRR from 1:2+!)
Comment, like and engage. I am happy to answer any questions!
Good luck!
Note
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DISCLAIMER (read it please): Never ever consider a trade without an education and always use a STOP LOSS to protect your account at all costs! Never ever use a mental STOP LOSS! You should also have a strict money management system in place, which allows you to trade with only a 1% Risk for each trade you take! If you are a beginner, you should trade with only 10USD Risk maximum and continue until you have gained the skills and proved yourself to be profitable over a longer period of time!!!
Note
If price goes below the daily Pivot, we have a rejection and this idea has failed then!Thats why we wait for the trendline to break, to not get ourself caught into a trade we don't want to be in when paramaters change!
Trade active
Price bouncing from the 0.618 Fib level
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