justatrader
Short

EURNZD - A Short Term trade

FX:EURNZD   Euro / New Zealand Dollar
124 0 1
By applying just candle stick patterns and pivot points , this is a trade, which I think should be easy and for the short term.

1. The region between 1.65955 - 1.6688 has been a rejection level in the past, with all 3 rejection levels being confirmed by a dark cloud cover pattern.

2. Plotting a short term up sloping trend line which should give a visual confirmation for the short.

3. Entry would be in/around current month's pivot point

4. Trade should be BE when price closes below last month's pivot level and target is set to this month's S1 (Note that the S1 region is a high buy zone level if you look to the past 2 months. So expect price to bounce off this level very quickly.
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