Breakout on EURNZD
Updated
Hi guys,
this time i choose to use this layout so that you can better undestand the thought process behind this opportunity. As you can see on the left (daily chart) in the past weeks price has been consolidating between 1,520 and 1,545. However, last thursday, price has broken to the downside with a big bearish candle followed by another candle closing below it.
Therefore, now i'm waiting to see some weaknesses so that i can short at this level that is what previously was support and now could turn into resistance.
I'll keep you updated.
The potential to the downside is very big.
If you want to share your view, or simply ask questions, feel free to comment below.
Otherwise, see you in the next chart!
this time i choose to use this layout so that you can better undestand the thought process behind this opportunity. As you can see on the left (daily chart) in the past weeks price has been consolidating between 1,520 and 1,545. However, last thursday, price has broken to the downside with a big bearish candle followed by another candle closing below it.
Therefore, now i'm waiting to see some weaknesses so that i can short at this level that is what previously was support and now could turn into resistance.
I'll keep you updated.
The potential to the downside is very big.
If you want to share your view, or simply ask questions, feel free to comment below.
Otherwise, see you in the next chart!
Note
No entry yet. Price seems going back to the consolidation channel. Let's wait.
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