Using Market Structure, EURNZD has formed a Bullish Expanding Triangle Pattern. I see a swing short position in the resistance zone area of 1.82911-1.82391. After predicting that price will fall, it will complete the pattern around the price area of 1.74219 thus reversing for a long position.
I've already entered for a short at entry price of 1.82362 and set a stop-loss at the parameter of 1.83100 (55pips). I recommend a 33pip stop loss, the reason I set mine higher is because I entered hours before the market closed.
Risk: -55 pips
Reward: +736 pips
Chart Patterns Link
https://www.forexboat.com/forex-chart-patterns-guide/
I've already entered for a short at entry price of 1.82362 and set a stop-loss at the parameter of 1.83100 (55pips). I recommend a 33pip stop loss, the reason I set mine higher is because I entered hours before the market closed.
Risk: -55 pips
Reward: +736 pips
Chart Patterns Link
https://www.forexboat.com/forex-chart-patterns-guide/
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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.