EUR/NZD Analysis Possible Short Sell oppurtunity
Disclaimer: Any of the content presented on my page showing my analysis of the market is just that, an analysis which means this is my personal opinion of where the price is going to go. Do not by any means take this simple analysis for a reason to enter a trade, I am not presenting these analyses as a form of signals, simply a way to get feedback and opinions from others on how my trades look. Take this trade at your own risk, but know forex is a risky market that you can make a lot of money but can lose that money or even more just as fast, enter these markets with your own risk and good luck with your trading :).
Daily Analysis
I notices price on the pair EUR/NZD has been ranging between 1.70225 and 1.66692, price then had broken out of this range on Monday evening which might mean momentum is getting carried to the downside. Price is breaking below the ranging lows and is now possibly using these recent lows as a resistance point before dropping.
Hourly Analysis
As of right now this pair can go both ways, waiting for a confirmation and a bearish close of a candle below 1.66495, this could be a possible entry point for the downside. If price breaks above the black line or the resistance in this case this trade would be canceled out and then I would be looking for a long trade after that. Here, make sure to wait for confirmation and a close of a candle below or above a key zone before getting into a trade.
Always remember, all trades that I end up taking will all be risking one percent of my total capital, like most people say, I think that risk management is the only thing really holding anyone back in the trading game. Learn to control your emotions and learn how to get a good entry with a good Risk to Reward is the ideal plan, but many people often overlook the position sizing portion of trading as something they never need to learn themselves. I also thought this for a long time but as soon as I had a fixed percentage amount that I would risk each trade and only take trades with at least a one to three risk to reward.
Please let me know if I missed any major key levels or anything that you noticed, I really like the feedback on my trades and like to hear what ideas other traders have. Please comment with your opinions and views so we can all work to better one another.
Thanks again,
KeySlot.
Daily Analysis
I notices price on the pair EUR/NZD has been ranging between 1.70225 and 1.66692, price then had broken out of this range on Monday evening which might mean momentum is getting carried to the downside. Price is breaking below the ranging lows and is now possibly using these recent lows as a resistance point before dropping.
Hourly Analysis
As of right now this pair can go both ways, waiting for a confirmation and a bearish close of a candle below 1.66495, this could be a possible entry point for the downside. If price breaks above the black line or the resistance in this case this trade would be canceled out and then I would be looking for a long trade after that. Here, make sure to wait for confirmation and a close of a candle below or above a key zone before getting into a trade.
Always remember, all trades that I end up taking will all be risking one percent of my total capital, like most people say, I think that risk management is the only thing really holding anyone back in the trading game. Learn to control your emotions and learn how to get a good entry with a good Risk to Reward is the ideal plan, but many people often overlook the position sizing portion of trading as something they never need to learn themselves. I also thought this for a long time but as soon as I had a fixed percentage amount that I would risk each trade and only take trades with at least a one to three risk to reward.
Please let me know if I missed any major key levels or anything that you noticed, I really like the feedback on my trades and like to hear what ideas other traders have. Please comment with your opinions and views so we can all work to better one another.
Thanks again,
KeySlot.