EURNZD: Massive uptrend in place

FX:EURNZD   Euro / New Zealand Dollar
Analysis on chart.
We can look for longs here as long as EURNZD             stays one week above 1.65544.

A nice entry is 1.68088, but I'm not sure if it'll reach that low.
Up to each trader's criteria.
The trade is valid already, so feel free to enter on retrace and/or market.

Good luck!
Trade closed: target reached

Time to scale in.
David Alcindor reminded me to look at this pair. He posted one of his geo formations, suggesting a long trade here was possible.
Indeed, we have a potential long term uptrend in the eurusd pair, and nzdusd formed a weekly sell signal, so eurnzd as a longterm uptrend is still valid.
We have a clear setup here, stop loss is wide, but risk/reward is great.
EURUSD/NZDUSD spread is insane...I sense a great short coming here and in EURAUD.
I'll try a pair trade with a small position size on each.
Important lesson here:

Never pass on the first retracement after range expansion off a mode, never ever do it.
Specially not in the following pairs: gbpnzd, eurnzd, eurcad, gbpcad, euraud, gbpaud...They always work heh.
"Massive uptrend" indeed.
Moved SL to BE.
Risk free trade.
Closed the scale ins in profit.

Placed a scale in here, 75% tp at the high.

Trailing the stop here would be wise.
+1 Reply
Entered a pair trade here, 1% risk on each side using ADR.
1.2x the size of EURUSD in NZDUSD to be volatility adjusted.
Pretty intense move.
Got out for now, I'll reenter on a pullback.
So far so good, now sitting in it and waiting.
+1 Reply
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