EURNZD looking for a Strong bullish bounce soon...
See callout bubbles. Always measure your risk and be okay with being wrong ; ) Wait patiently and get the price that you want. Use the market. Don't let the market use you.
Trade active:
No entry from EUR news yesterday, but price has met our entry and we are in the trade! It's still AM for the US session, so we will look for some bullish price action since price has come deep into a very nice demand level!
This trade could have a lot of potential...
Always measure your risk and be okay with being wrong ; ) Wait patiently and get the price that you want. Use the market. Don't let the market use you.
This trade could have a lot of potential...
Always measure your risk and be okay with being wrong ; ) Wait patiently and get the price that you want. Use the market. Don't let the market use you.
Comment:
Price has cut down quite a bit... Sticking with it! If we get stopped out, we will monitor to see if a bottom may be forming and take a trade as price is heading out of the zone...
Trade active:
With RSI being so over-stretched and price being in an area which has seen some incredible demand, I re-entered this trade with a 120 pip stop-loss at 1.6340. I usually don't trade like this, but I am feeling pretty confident that Bulls will step in and begin to push the price higher...
Negatives: The EUR is looking a bit weak across many pairs. Because we have such a large stop-loss, it will take price longer to get to our profit targets... Patience and boldness will be key with this trade.
Positives: We've measured our risk, so if we get stopped out, we just take the loss and move on. The NZD is looking a bit extended across many pairs and the price is in a very strong demand area, so the odds are in our favor for the price correcting a bit in the coming weeks to take some of the pressure off the Bears.
No matter what, we want to watch this pair very carefully and be a bit aggressive with taking profit when its there. If the EUR begins to see some strength this week, that will take a little pressure off, but we still want to manage that 120 pip stop-loss to prevent a big loser!
Always measure your risk and be okay with being wrong ; ) Wait patiently and get the price that you want. Use the market. Don't let the market use you.
Negatives: The EUR is looking a bit weak across many pairs. Because we have such a large stop-loss, it will take price longer to get to our profit targets... Patience and boldness will be key with this trade.
Positives: We've measured our risk, so if we get stopped out, we just take the loss and move on. The NZD is looking a bit extended across many pairs and the price is in a very strong demand area, so the odds are in our favor for the price correcting a bit in the coming weeks to take some of the pressure off the Bears.
No matter what, we want to watch this pair very carefully and be a bit aggressive with taking profit when its there. If the EUR begins to see some strength this week, that will take a little pressure off, but we still want to manage that 120 pip stop-loss to prevent a big loser!
Always measure your risk and be okay with being wrong ; ) Wait patiently and get the price that you want. Use the market. Don't let the market use you.
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Always measure your risk and be okay with being wrong ; ) Wait patiently and get the price that you want. Use the market. Don't let the market use you.