EURNZD–bullish continuation after a small pullback .. 16-20 Dec
Updated
Weekly – Strongly bullish
Daily – Indecision for 2 days but Fri candle was bullish. Price above 200dma.
H4 – Well established bullish trend, price holding above 20sma. Price has moved away from the 20sma and a small retracement would provide better value for taking a long trade.
A retracement to the 50-61.8% retracement would be ideal, could even go lower. I will be looking for bullish PA after a retracement. My stop would be below the last H4 swing low and target near the 1.8430 area.
This is not a trade recommendation, merely my own analysis. If you decide to trade this, you should be aware that trading carries a high level of risk, so only trade with money you can afford to lose. Please use sound money and risk management, trading without a stop or moving the stop away from price is a recipe for disaster.
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It’s not whether you are right or wrong, but how much money you make when you are right and how much you lose when you are wrong – George Soros
Daily – Indecision for 2 days but Fri candle was bullish. Price above 200dma.
H4 – Well established bullish trend, price holding above 20sma. Price has moved away from the 20sma and a small retracement would provide better value for taking a long trade.
A retracement to the 50-61.8% retracement would be ideal, could even go lower. I will be looking for bullish PA after a retracement. My stop would be below the last H4 swing low and target near the 1.8430 area.
This is not a trade recommendation, merely my own analysis. If you decide to trade this, you should be aware that trading carries a high level of risk, so only trade with money you can afford to lose. Please use sound money and risk management, trading without a stop or moving the stop away from price is a recipe for disaster.
If you like my idea, please give a “boost” and follow me to get even more.
Please comment and share your thoughts too!!
It’s not whether you are right or wrong, but how much money you make when you are right and how much you lose when you are wrong – George Soros
Trade active
Nice movement, 50% trade already closed while stop has now been moved slightly above b/e for the balance position.
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