EURNZD Key Level To Go Short

FX:EURNZD   Euro / New Zealand Dollar
1232 7
Price is heading up and will soon may reach a key level where there is a great probability to reverse. For a cheeper setup you may wait for a bearish setup to complete at that level. Fore those who follow my setup, stoploss and profit targets as shown at the chart. Remember to move stoploss at breakeven at second position.

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Trade active
Trade closed: target reached: Move your stoploss at breakeven at second position for a risk free second trade..!
Trade closed manually: Price is moving in sideways and we may have an uptrend very soon. For those who are still in this setup you may close second position manually at the level of the first target

Here you go some context of the structure and a potential trade. Minimum Risk/Reward 7.5/1 but likely IF we move lower we are going to take out even daily low. IF we break higher, wait for consolidation and buy continuation.
Hope the IF=THEN scenario is clear.
TimStuyts TimStuyts
Fxprotrader TimStuyts
I really like your chart Tim, well done..!
Thank you
Fxprotrader Batman-oz
You are welcome
from what i see on daily this will going uptread
You may buy then.. This is a 60min chart..!
+1 Reply
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