EUR vs PLN taking entry in the sideways graph. Resistance and Support.
Two Higher Lows; Swing High; Engulfing Candlestick; Parallel Channel; Entry Price = 4.68762 Take Profit Price = 4.73250
I went short the Polish Zloty (PLN) via a long EURPLN position. My models point to a overvalued Polish Zolty, that in combination with an underlying bullish structure gives us a nice setup. Risk/Reward ratio = 6 This is a longer term position, if you take the trade, make sure your Broker charges you competitive swap rates. Manage you risk properly.
Pin Bar formed at Resistance Level. Pin Bar formed at pull back to the resistance level.
EURPLN going Short Bearish Candle Patterns indicate Bearish to continue.
Watch Price Level 4.79000 for a bullish price action signal. Wait for price to close above 4.79000 before entering a trade.
Bullish Engulfing Candlestick formed on Pivot Point, EMA 10, and EMA 20.
Closing price (black) is near horizontal level price, EMA 10 Close Price, EMA 20 Close Price, and a Previous Pivot Point Price; Enter a long position. The rejection candlestick open and close price has a short distance.
Short Position taken after observing price action at following 1. Bearish AB=CD
This is look like not happy ending story for Polish Zloty
Different governments over time in 1 month timeframe. Graph shows EURPLN + USDPLN + CHFPLN bucket. It simply shows, how "strong" Polish currency is.
Anticipating trendline break and retest. Seem good enough support to launch this
EURPLN $EURPLN Continuation Short. TP and SL on chart. Move SL on TP. After TP2, trail with 0.5ATR step and 1.5ATR offset.
Overall Average Signal from all our indicators suggests a Short. Entry is at market open and exit is shortly before market close or whenever you are okay with profits.