Again a possible harmonic pattern on this pair. I'm still hoping we can reach that possible bat D point up above 1.14 so I'm going long at market now... I was already long from 1.1140 with my SL at 1.1120 so I'm adding a long, therefor my position size will be somewhat smaller.
I'm also short EUR/NZD and short NZD/USD which would mean that USD is strongest, then NZD and then EUR the weakest.
This means that I am either wrong on this one or wrong on the EUR/NZD short, allthough that one has a much wider SL, so a short move up on this pair could still be possible within my EUR/NZD 'wiggle room'...
SO PROCEED WITH CAUTION PEOPLE!! It might be a good idea to take the regular 38.2/61.8 CD retracement targets instead of the trades I propose...
Oh well, we can always call it a hedge trade... ;-)
I'm also short EUR/NZD and short NZD/USD which would mean that USD is strongest, then NZD and then EUR the weakest.
This means that I am either wrong on this one or wrong on the EUR/NZD short, allthough that one has a much wider SL, so a short move up on this pair could still be possible within my EUR/NZD 'wiggle room'...
SO PROCEED WITH CAUTION PEOPLE!! It might be a good idea to take the regular 38.2/61.8 CD retracement targets instead of the trades I propose...
Oh well, we can always call it a hedge trade... ;-)
Trade closed: target reached:
TP1 taken around the trendline, closed the rest in profit since I still have a long position open with better entry at 1.1140 based on a previous idea, which I'm leaving open.
