41 views
Caught a nice long trade on EURNZD today.
Price returned to an area of the price action (blue rectangle in between support and resistance ) at 1.76473. Around this level, we have seen bullish momentum occur and so this is a level to keep an eye on.
Once I received confirmation of rejection at this level (Close bullish 4H candlesticks ) I entered a long trade at 1.7681.
As price neared the 200 day EMA I monitored my position closely in case we saw the bullish momentum turn bearish . Often, the price may reach the 20 day EMA and reject.
Price returned to an area of the price action (blue rectangle in between support and resistance ) at 1.76473. Around this level, we have seen bullish momentum occur and so this is a level to keep an eye on.
Once I received confirmation of rejection at this level (Close bullish 4H candlesticks ) I entered a long trade at 1.7681.
As price neared the 200 day EMA I monitored my position closely in case we saw the bullish momentum turn bearish . Often, the price may reach the 20 day EMA and reject.
Comments