EURNZD IN A 240 CORRECTIVE STRUCTURE
ONE MORE DOWN IS POSSIBLE BEFORE THE BIG UPSIDE
THIS DOWN MOVE IS AN E CORRECTIVE WAVE OF THE STRUCTURE
LOOK FOR THE BREAKOUT TO SELL!
KEEP FOLLOWING AND SUPPORT
This is also hitting the bottom bollinger (20, 2.5) , on a trend line and in the support zone. All three things point to a LONG setup. I am new at this but want to understand how you are looking at it. Thanks!
Thanks so much Zohaib. Now it makes sense. So it short term it might be a buy setup but in longer timeframes it's a Short opportunity. It might be a good risk reward ratio to go long in short term but I might be going against the trend.
Just wait for the breakout to confirm which side it will go. If it break up then one more up is possible in the structure or maybe this time it will break the structure to downside so wait and trade after correction