FX:EURNZD   Euro / New Zealand Dollar
I would like to see the Euro             rally higher into the top yellow box (denoting a Day Supply Zone ), then a short can be initiated to sell the Euro             against the Kiwi.

The risk is 70 pips with a reward of >5xRisk.

EP: ~1.65170
SL: ~1.65870
TP: ~1.60870

The strong move down from the 1.6517 area suggests that there may be a resell in that area the next time price revisits.
Hi,
I stuck up in shorts of EUR/NZD. So should I follow your SL of 1.65870 ?
Reply
That is entirely up to you. I don't offer investment/trading advice or signals. I merely share my ideas. This is the risk I am willing to take on the position. This is how much I am willing to lose. 70 pips. You decide what you are willing to lose.
Reply
rajan.kher selfrighteousgambler
Thanks for your reply. Today EUR/NZD just found resistance near level you mentioned of 1.6579. I already stuck up in this trade so I was looking for some trading view and I got yours.
I have decided to follow your sl or at max 1.66. Above that I cannot afford loss.
Reply
That is good. This is 3% of my account so I can sleep well if it goes wrong.
Reply
rajan.kher selfrighteousgambler
Hi, As per your strategy I am holding shorts of EUR/NZD. How long will take to achieve target below 1.61? Any update?
Reply
I have no idea. I too have a short position open with a target of 1.63 to 1.61. I do not usually worry about how long it takes. I just let it get there
Reply
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