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EUR-NZD

EURNZD - ShortWaiting for a sell signal on the 1m and 5m time frame for EURNZD. There is an alternate bat pattern completing in the sell zone as well. There was a strong up move (purple) which triggered a lot of people to go long. I believe the banks want to go short. The blue line is the start of that up move they made, so I'm looking for them to close out those longs before they begin to go short. I also like the idea that we have a double bottom forming which might get people to go long again...(as we sell) I'd like for the entry to happen just after the NY opening bell, 8am-8:30am As this could be a false breakout, then they might reverse it with 15 minutes left to the hour. I'm not too fond of the structure, and how things look, but it follows my rules so I am entering. Take profit - next level of bullish volume AND my aggressive target will be that greyish blue line on the bottom. There are equal lows there where people might have pending orders the market makers want to target. Confirmations: Reverse Crab, Alt Bat, Liquidity Spike, Bearish Point of Control, Bearish 5-0 (all completing within 5 pips of each other) -GP3
Short
by elevatedinvestor
1
EURNZD on downtrend confirmed but reversal imminent? With EURNZD, we have good potential for buys but there seems to be a little backlash if we get into the buy now. Price just broke the key area of 1.70479 and retested that key area on the hourly timeframe. Though looking at the bigger picture, I slapped on a Fibonacci and a strong key area box and we have price reversing towards the high at the 50% fib. This is a good indication of the buy continuation yet the closest key area is already retested. What we'll do is put a BUY STOP position so we can wait for the price to break up past the key area and continue up. Good luck EURNZD BUY STOP start: 1.70542 stop loss: 1.70137 take profit: 1.71868 Want to keep up to date on trades? Join the group Community on Telegram: t.me
Long
by mrleh