KaKeungChoi
Long

EURNZD-Ready to Climb the Steps

FX_IDC:EURNZD   EURO / NEW ZEALAND DOLLAR
45 2 3
EURNZD-Ready to Climb the Steps

This pair has retreated for a long while, after the initial reverse trend back in April 2015, expecting a nice return to the upper side in later weeks, wait for the price to climb and close above the 50 days SMA to confirm this reverse trade. entries of buy should set at the support zones and levels. three of the take profit resist zones should achieve in time.

Trading Rules:
All S/R Zones has power to reverse the trade, but once broken with a closing candle Support zone will become Resist zone, and Resist zone will become Support zone .
Only trade when levels in zones are touch for the first time with a 1 hour engulfing candle to confirm the reverse.
Do Not chase price, let the price come to the S/R zones before entries.
S/R levels between zones can be use as Take Profit or stop lost location.
Nice strong rebound from the buy level.
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Nice strong rebound from the buy level.
Reply
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