Akil_Stokes
Long

EURNZD: Potential Bullish Opportunity at Structure Support

FX:EURNZD   Euro Fx/New Zealand Dollar
As mentioned in a previous post, I try to make a habit of looking at pairs outside of my trading portfolio in order to stay sharp and work on my technical analysis skills.

Today I found a nice potential opportunity on the EURNZD             . Syndicate members I'll be talking about this setup in a little more detail in the video I'm about to produce for you, but essentially what I would be waiting for is a buying signal once we've been given confirmation that this level of support has importance.

I'm not sure if I'm going to do this or not, but keep an eye out for me on social media as I'm thinking about broadcasting the first 30 minutes of tomorrow's Live Trading Room session on Youtube. If that is the case I'll get the word out tomorrow morning for you.

Akil Stokes
Chief Currency Analyst & Head Trading Coach
http://www.TradeEmpowered.com -The Premier Online Trading Education Company
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I TP'd on a gnarly short at this support. Glad to see I'm not the only one that's looking for the possible long here
+1 Reply
Congrats!
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interesting enough.. the 1.414 from the last leg down falls around that previous low structure.. good risk reward on that long.
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juklangel11 juklangel11
that is 1.6266..
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Akil_Stokes PRO juklangel11
Nice
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the legs down on the 4 hour are 200 pips on the way down... then 100 on the outside return.. very systematic so far.
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the only thing is...1.6125 is what i c as the real bottom for this sl...so laying small leverage would be indicated: you could break your lots or set the large sl..
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Akil_Stokes PRO juklangel11
I agree, I just brought that point up in the video and is also why in this particular situation I would wait for confirmation before entry. I've learned my lesson many times in the past about those sneaky double levels of structure. Good eye!
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juklangel11 Akil_Stokes
tsk Akil. i like your angles and risk structure like fib levels and advanced trade patterns...that's the only way to create and edge amidst bank manipulation.
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juklangel11 juklangel11
also, ez trades in lock step inversely with kiwi, so in my view is a relatively simple pair to trade, also risk averse nature of this pair is also relevant. the only dettachement is on IR decision day...then it moves in lock step with the euro for 12 hours before going back to the mean after the deal runs..also is not expensive to trade mini lots ...
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juklangel11 juklangel11
sorry for the redundant "also"
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Akil_Stokes PRO juklangel11
I just like to keep things as simple as possible and as Larry Pesavento says Trade What I See
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Akil_Stokes PRO juklangel11
Thanks
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good catch!
+1 Reply
Thanks
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Nice trade Akil, everyone likes a pain free trade
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You need those every once in a while
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Tunghama1 Akil_Stokes
Hi Akil are we expecting a bullish move on this pair anytime soon?
+1 Reply
I see no reason to expect that
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Do we have a new long opportunity here?
+1 Reply
There's always a long and short opportunity in the market. So yes
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Not one that I'm personally interested in, but that doesn't mean that another trader won't see something that meets there rules
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