Last week Eurnzd gave a nuce 150 pip move to the downside.
Long term downrtend.
As you can see the price is correctively moving to the upside(scaling up) once again and divergence is starting to show on macd as well. Watch the ascending channel to break aggresively to the downside and give the price some room to move.
Risk reward 1:3 or 1:4 depending on stop loss. Watch for the impulsive move to the downside. If the price breaks the highlighted area to the upside there is no setup.
Trade with care and risk what you are willing to lose.
Any comments are appreciated and more than welcome
Long term downrtend.
As you can see the price is correctively moving to the upside(scaling up) once again and divergence is starting to show on macd as well. Watch the ascending channel to break aggresively to the downside and give the price some room to move.
Risk reward 1:3 or 1:4 depending on stop loss. Watch for the impulsive move to the downside. If the price breaks the highlighted area to the upside there is no setup.
Trade with care and risk what you are willing to lose.
Any comments are appreciated and more than welcome