KVE
Short

EUR/NZD: Bearish breakout

FX:EURNZD   Euro Fx/New Zealand Dollar
33 2 1
a year ago
This pair broke the "up" channel it was in last week and is now below a possible previous structure S/R zone (daily candle close below that zone, at least in my timezone...).
I have therefor turned bearish on this pair.

I am entering now at market and will possibly add additional shorts (see trades on chart) after a possible retracement into or just above the mentioned S/R zone.

My SL is safely above 1.7500, but I will trail it lower asap             , with the "down" trendline drawn on the right chart as a guideline. People who prefer a tighter SL might consider having it just above the daily breakout candle wick and certainly above 1.7400, say 1.7455 or so (which lies around the 23.6% retracement of the last big move up if you count the spike on August 24th).

3 possible targets for me:
1. The . 382 retracement of the last big move up if you count the spike on August 24th (50%)
2. The . 382 retracement of the last big move up if you discard the spike on August 24th (30%)
3. The .50 retracement of the last big move up if you count the spike on August 24th (10-15%)
A small part (5-10%) can be left open in case we go even further down.

My position size will be adjusted that the maximum risk after adding additional shorts will be only 1% of my current equity .
a year ago
Trade closed: target reached: TP1 and TP2 reached, closing the rest now (1.6350) as we might be hitting some support.

GREAT TRADE!!
KVE PRO
a year ago
Missed TP1 today..., small profit (30%) booked @ 1.6950, my SL is now at BE.
Reply
KVE PRO
a year ago
Still going...
Reply
Ideas Scripts Chart
United States
United Kingdom
India
España
Italia
Brasil
Россия
Türkiye
日本
한국
Home Stock Screener Economic Calendar How It Works Chart Features House Rules Moderators For the WEB Widgets Stock Charting Library Priority Support Feature Request Blog & News FAQ Help & Wiki Twitter
Private Messages Chat Ideas Published Followers Following Priority Support Public Profile Profile Settings Billing Sign Out