EURNZD 4H | Why Short to 1.77080? (READ DESCRIPTION)
Pair of Name
EURNZD
Time Frames : 4H
Direction : Short
Type : Trend line break
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EUR/NZD looking strongly downwards with the support from a major down trend line
after breaking this support area. And we are expecting this to be a new Resistance area at 1.78870$. we are in expectations of a retest of not only the trend line but also the resistance level at the same time. A powerful indication to go short. Not only is this a powerful indication but as the Fibonacci level 0.786 at area 1.79030$ Which is also known as a trade area for traders. our target is lying close to the monthly low. ( 80 PIP = 0.45% from the monthly low ) at just area 1.77080$ We are expecting a bullish reversal from the liquid trend line
Summary
Hope this helps you!
EURNZD
Time Frames : 4H
Direction : Short
Type : Trend line break
————————
EUR/NZD looking strongly downwards with the support from a major down trend line
after breaking this support area. And we are expecting this to be a new Resistance area at 1.78870$. we are in expectations of a retest of not only the trend line but also the resistance level at the same time. A powerful indication to go short. Not only is this a powerful indication but as the Fibonacci level 0.786 at area 1.79030$ Which is also known as a trade area for traders. our target is lying close to the monthly low. ( 80 PIP = 0.45% from the monthly low ) at just area 1.77080$ We are expecting a bullish reversal from the liquid trend line
Summary
- Wait for a retest of trend line and resistance area.
- Look for a clear entry sign on the 15 minute chart.
- Wait until the bears take over.
- Play waiting game.
Hope this helps you!
Comment:
pull back break of area / entry area - 1.78840$
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