EUR/NZD Long Pos Swing 1:10 Risk/Reward 5 confluences
Explanation : This is a long term trade with 5 confluence
Confluence 1 : Bull Trend Line on the Daily Chart
Confluence 2 : Historical Minor Support line dating from December 2018
Confluence 3 : Fibonacci Retrace aligning at 61.8% on confluence 2
Confluence 4 : Historical Minor Resistance line line dating from November 2018
Confluence 5 : Awaiting Retest as well as hammerhead candlestick on confluence 2 for a buy limit entry of 1.67725
Details as follows :
Position : Long
Buy limit : 1.67725
Take Profit 1 : 1.17930 (50%)
Take Profit 2 : 1.78000
Stop Loss : 1.66700
Risk : -102 pips
Take Profit 1 Reward : 420 Pips
Take Profit 2 Reward : 1028 Pips
Confluence 1 : Bull Trend Line on the Daily Chart
Confluence 2 : Historical Minor Support line dating from December 2018
Confluence 3 : Fibonacci Retrace aligning at 61.8% on confluence 2
Confluence 4 : Historical Minor Resistance line line dating from November 2018
Confluence 5 : Awaiting Retest as well as hammerhead candlestick on confluence 2 for a buy limit entry of 1.67725
Details as follows :
Position : Long
Buy limit : 1.67725
Take Profit 1 : 1.17930 (50%)
Take Profit 2 : 1.78000
Stop Loss : 1.66700
Risk : -102 pips
Take Profit 1 Reward : 420 Pips
Take Profit 2 Reward : 1028 Pips
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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.