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Linton_White

EURNZD Long Trade Entry

Long
Euro / New Zealand Dollar (FX:EURNZD)  
Linton_White Updated   
FX:EURNZD   Euro / New Zealand Dollar
Chart Patterns Wave Analysis Technical Indicators EUR EURNZD eurnzdlong eurnzdforecast eurnzdbullish eurnzdbuy ｆｘ Forex forexsignals
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chartpattern waveanalysis indicator eur eurnzd eurnzdlong eurnzdforecast eurnzdbullish eurnzdbuy ｆｘ forex forexsignals
EURNZD has formed an impulse leg A and we are currently in the B correction which shows 3 waves at this stage. I expect a move back down to the low at 1.6715 and then a move to break out of the correction. It is possible that the correction will be a 5 wave structure but either way suggests a break to the upside. I have entered a short position down to the low where I will take profit and then enter the long position.

TP 1: 1.6800
TP 2: 1.6900

snapshot
Comment:
The price reversed to the bottom of the structure as expected. I took profit on my short there and entered the long. TP 1 was achieved where I partially closed my position.

My SL for the remainder of my position is at break even with TP 2 at 1.6900
Trade closed: target reached:
TP 1 was achieved where I partially closed my position. Unfortunately the news from the ECB yesterday was very EUR negative and price closed out my remaining position at entry. Still a nice profit though.
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