EURNZD approaching bearish consolidation order block after sweep of liquidity.
Find entry, sl n tp in TA.
setup invalid if sl hit.
NB: Patience + risk management is key to winning trades.
Hi TRADERS this is my trade set up for the EUR/NZD
EUR/NZD Is coming in to a area of strong support, if this level holds we will be looking for a buy only
This is my analysis only please trade with caution and risk management in place
clean crisp charts I hope it helps if you have any questions please private message me
good luck for this weeks trading
please...
Hello traders,
Hope you had an amazing weekend !
EURNZD is overall bearish given the strong momentum we have seen last week.
I will be shorting this pair if i see a valid 15 min rejection pattern.
The risk reward ratio on this pair should be good enough to get us a solid 5-6% without risking too much
Good luck everyone !
ETGL TEAM 💛
EURNZD Chart Analysis:
1. Dow theory- HH-HL
2. Bullish engulfer 2hrs ago
3. False breakout at Fib Retracement level 0.23
4. weekly support line at 1.644, close to fib 0.38 level
5. AB=CD pattern
BIASED LONG
Watch out level
(breakout at 1.6442 support level) OR Fib 0.38
Plan A
Take entry right now at 1.6523
SL at 1.6438 or at fib level, right below...
List of confluences:
1:Stop loss hunt at previous low on weekly chart
2: Double Bottom formation on daily chart around previous low on weekly chart
3: Daily chart and H4 trendline breakout
Summary:
Price is currently over extended and has been moving in a down trend for 3 weeks straight. We are looking for a potential pullback to just above the 50% ...
26th & 27th daily bars form two bar reversal setup. use low risk trend reversal position takes time to build energy for reversal. divide risk for two position one from current level second from low of last week.
