A set up that has been brewing for a long time is this falling wedge in the EURNZD pair. I really love this pattern and now we have a proper divergence and the possibility of a very bullish engulfing candle. Having all of these standing behind my bias gives us the confidence we need to start really building proper positions. My targets are pretty high but i think this type of set ups are perfect due to long term position building letting us gather more and more momentum as the price turns up.
Comments
Gino
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Isn't the exchange rate already too high considering the trouble in Eur?
Art-of-FX
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@Gino, I dont care about that type of thing, I am only interested in Pips. No exchange rate is to high for a great trade.