This is my chart analysis behind the EURNZD long position I'm currently in. On the chart, you can see major confluence around the 1.73500 level, which is a key level.
We can see the pair break the support, then retest before continuing to go up. My exact entry was at 1.73547.
Although I don't rely heavily on indicators, all 3 of my indicators (2 MA & 1 EMA) show support right below my entry level.
I expect this pair to move the full 275 pips to my TP level at 1.76250, and possibly even higher than that.
To summarize: I entered this trade because a major resistance level was broken, then retested as support (1.73500). This retest was right after a large move to the upside, so I would consider that to be a "correction" phase, before a continuation to the upside, where I have my TP level. I have already taken partial profits (25% of my lot size) at 1.74500 (100 pips from entry).
I am offering these Chart Analysis' & Signals for FREE in my discord group! discord.gg/Q8j4PQ
No catch, I simply believing that teaching others what you are learning yourself is the best way to learn!
Hope this helped out!
We can see the pair break the support, then retest before continuing to go up. My exact entry was at 1.73547.
Although I don't rely heavily on indicators, all 3 of my indicators (2 MA & 1 EMA) show support right below my entry level.
I expect this pair to move the full 275 pips to my TP level at 1.76250, and possibly even higher than that.
To summarize: I entered this trade because a major resistance level was broken, then retested as support (1.73500). This retest was right after a large move to the upside, so I would consider that to be a "correction" phase, before a continuation to the upside, where I have my TP level. I have already taken partial profits (25% of my lot size) at 1.74500 (100 pips from entry).
I am offering these Chart Analysis' & Signals for FREE in my discord group! discord.gg/Q8j4PQ
No catch, I simply believing that teaching others what you are learning yourself is the best way to learn!
Hope this helped out!