Hi traders,
THE STATEMENT
Here you have a quick scalp idea on
EURNZD
, using H1 for directional bias and M10 for execution.
THE PLAY
On H1 time frame, there is a bearish RSI Divergence forming since 14th of January 2022. However despite the RSI Divergence, there is no other confluences indicating a reversal (no Break of Market Structure or Lower Lows and Lower Higs), meaning: We sit on our hands!
On 18th January 2022, there is a clear Double Top forming (clear rejection between 10h00 and 11h00).
To consider going short, we need the price to create a Lower Low and Lower High. For our trade execution we are looking for an entry on the 10 minute time frame.
Price breaks our level and rejected it as well as EMA 21. Additionally candle closes as an Inverted Hammer.
THE RESULT
+2.5% for a quick intraday play that lasted 4 hours.
THE STATEMENT
Here you have a quick scalp idea on
EURNZD
, using H1 for directional bias and M10 for execution. THE PLAY
On H1 time frame, there is a bearish RSI Divergence forming since 14th of January 2022. However despite the RSI Divergence, there is no other confluences indicating a reversal (no Break of Market Structure or Lower Lows and Lower Higs), meaning: We sit on our hands!
On 18th January 2022, there is a clear Double Top forming (clear rejection between 10h00 and 11h00).
To consider going short, we need the price to create a Lower Low and Lower High. For our trade execution we are looking for an entry on the 10 minute time frame.
Price breaks our level and rejected it as well as EMA 21. Additionally candle closes as an Inverted Hammer.
THE RESULT
+2.5% for a quick intraday play that lasted 4 hours.