FX:EURNZD Euro Fx/New Zealand Dollar
Hey man, I was interested in your trade/chart. I don't know that I would have re-entered right away. On a monthly chart, the green area is the support/resistance level the value is approaching. Which is a good thing for your short. However, i see a nice trend of higher highs and higher lows which illustrates an upward trend. Right now the price is in the center of the channel I have drawn. I also added and area where I would be looking to sell. Whether my chart is Right wrong or indifferent, you are looking at a difference of 200-600 pips from the current price.
@hitech Load the extra bars in the chart. That ranging has me itching!!!! If it closes on or around the support line with a bearish candlestick, I am buying. I will have a 150pip stop loss so money management will be extremely important(always is but I felt I should emphasize it for some reason). I will be targeting 225 to 400 pips profit. Just thought I would say hi and let you know my thoughts.