Here's a EURNZD SHORT trade I took earlier but didn't get around to posting. Another successful trade banked for +60 PIPS PROFIT
- Long term bearish trend - Daily direction is short - Rejection of previous high - Lower lows and lower highs - Rejection of 20 EMA on daily chart and 100 EMA on 4HR and 1HR charts
Entry at 1.47650 coincided with the 20 EMA on the daily charts, and the 100 EMA on the 4HR AND 1HR charts. It also coincided with the daily pivot point.
Set 50-70 pip target to S2 level at 1.47050 Stop loss 10-20 pips aboe the previous high (R2) Trade completed in 9HRS