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Trading2ez
Sep 30, 2021 8:37 PM

EUR/NZD BUY IDEA Long

Euro Fx/New Zealand DollarFXCM

Description

Hey tradomaniacs,

welcome to another free trading-setup.


EUR/NZD: Daytrade-Preparation

  • Market-Buy: 1.67530
    Stop-Loss: 1.67070

    Point of Risk-Reduction: 1.68100
    Take-Profit: 1.70500

    Stop-Loss: 42 pips
    Risk: 0,5% -1%

    Risk-Reward: 7,0






LEAVE A LIKE AND A COMMENT - I appreciate every support! =)


Peace and good trades
Irasor

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Comment

Hey tradomaniacs,

recent EUR/NZD turned out to be an S/H/S-Pattern which increases the likelyness of a drop here since indicies are probably showing a pullback today.

If thats the case EUR/NZD tends to fall due to risk-on in the market causing NZD and AUD to raise stronger than EURO .

Comment

Comments
vaseemnazia
i am happy with my counts but how to confirm the entry is it based on any indicator
Trading2ez
@vaseemnazia, for the confirmation I use multiple tools but here is one very strong evidence for a reversal ->


We see increasing sell-volume the downside with decent price-reactions to it.. the effort by sellsers is getting rewarded by a falling price.

Once we reach the peek of the volume the sellers are getting swamped by buy-volume which indicates absorption of big players taking all the contracts, which is MUCH of effort by sellers but no result (price-action responding shows a divergence to the volume).Once that happens the volume fades away and the market slowly builds a bottom / support right at trendline and support-zone.
MMBTtrader
valid support here bro
WicktatorFX
Love your thought process! Got the same :)
Trading2ez
@WicktatorFX, thanks =)
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