Euro / New Zealand DollarUpdated EURNZD
EURNZD shorts are running nicely, pushed down as expected. However, price is now rejecting a key trendline where we may see either a pullback or a push back to the highs.
So to cover myself I am taking a long trade to expose myself to whatever happens! If the long trade takes a loss then my short runs into more profit so no loss, whereas if we push up from here I would take a breakeven but hedging a long allows me to be involved on both sides of the market.
Let the market decide where it wants to go, trade with no ego.
So to cover myself I am taking a long trade to expose myself to whatever happens! If the long trade takes a loss then my short runs into more profit so no loss, whereas if we push up from here I would take a breakeven but hedging a long allows me to be involved on both sides of the market.
Let the market decide where it wants to go, trade with no ego.
Note
Long trade got stopped out, we have broken the trendline, confirming that our short has much more downside potential 😏🤪
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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.