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roostyroo25
May 11, 2020 11:29 AM

forming a wedge (open to all opinions) Short

EURO / NEW ZEALAND DOLLARICE

Description

on the daily TM its currently in a downtrend.
it is forming a wedge, for a potential big short move!

respecting the trend line, as its currently approaching, its showing signs of exhaustion on the upside.

just waiting for bigger conformations, such as being below the ema and both vol indicators agree to go short.
Comments
WicktatorFX
4hr 50EMA too :)
roostyroo25
@Wicktator, yess! seems to be respectong that!
kristianhammond15
Euro economy is weak, NZD is getting economy back up and running today as their Covid-19 Cases are low. Looking to target same Short TP just waiting for right sell signal.
roostyroo25
@kristianhammond15, Cheers for the information! On the 1h it is forming an evening star. which is a stroger sign ofa good bearish continuation
kristianhammond15
@roostyroo25, I have just entered at @1.78015, Sl Just above previous hourly high.
roostyroo25
@kristianhammond15, nice! Im going to enter once the current hourly candle has close on the lower 80% of the last bullish candle
roostyroo25
@roostyroo25, TP in the golden box
SL 1.78400 (resistance and 0.618 fib level)
kristianhammond15
@roostyroo25, I have just moved my stop to entry, hoping it can break back through 1.777 Resistance on 5M time frame
kristianhammond15
@kristianhammond15, Just been stopped out, looking to re - enter, however 15m candle does not fill me with confidence.
roostyroo25
@kristianhammond15, Unlucky, I prefer judging it off higher time frames, but that’s just a preference.

Hopefully we can get them this time!
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