Fxprotrader
Long

EURNZD Pending Bullish Gartley Pattern

FX:EURNZD   Euro Fx/New Zealand Dollar
In a previous post on EURNZD             we saw a potential breakout above a daily downtrend that would signal a big up move in the upcoming months with plenty of buy opportunities in it (click the link below). Price has broken above this trend and it's now consolidating. In this consolidation we have a pending bullish gartley pattern. Someone can trade it with the using the classic rules of stoploss and targets. Another way is, if price reaches the 0.382 target just to move your stoploss at breakeven and let it run. If price breaks above the consolidation you will be in a tremendous risk/reward trade.

I will personally go with the second option.

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