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EUR-NZD

EURNZD May Reverse! Trading Plan good morning traders! I have been following EURNZD for a quite long period of time. from October the market is trading within a falling parallel channel. for three months the market is steadily going down and we haven't seen a pullback. recently the market has reached a strong horizontal support level and I expect a bullish reaction from it. for confirmation, I will be waiting for a bullish breakout of a falling channel. target levels will be based on structure: 1.70 / 1.73 stop will be below the lower low within the channel. *if the market goes lower and sets new lower low within the channel, our setups will be invalid
Long
by VasilyTrader
6
EURNZD - ShortWaiting for a sell signal on the 1m and 5m time frame for EURNZD. There is an alternate bat pattern completing in the sell zone as well. There was a strong up move (purple) which triggered a lot of people to go long. I believe the banks want to go short. The blue line is the start of that up move they made, so I'm looking for them to close out those longs before they begin to go short. I also like the idea that we have a double bottom forming which might get people to go long again...(as we sell) I'd like for the entry to happen just after the NY opening bell, 8am-8:30am As this could be a false breakout, then they might reverse it with 15 minutes left to the hour. I'm not too fond of the structure, and how things look, but it follows my rules so I am entering. Take profit - next level of bullish volume AND my aggressive target will be that greyish blue line on the bottom. There are equal lows there where people might have pending orders the market makers want to target. Confirmations: Reverse Crab, Alt Bat, Liquidity Spike, Bearish Point of Control, Bearish 5-0 (all completing within 5 pips of each other) -GP3
Short
by elevatedinvestor
1