EURNZD Short then Long

We need to trade this pair carefully.

We called the current bearish move at the start of last week. However this move has continued further than we expected.

We will watch closely to see how this pair opens, but the expectation would be for the move downward to continue to the 1.758 area. From here we will take profit and watch to see any rejection of this area, to then look for longs (given the current downward moves it'll need to be a few solid closes)

Comment:

So the sell played out quite nicely (the positions on the chart are just for rough guidance - I always wait for price action confirmation). While it was great that the sell worked out, I think i needed to be a little more ambitious with it - as it could have easily been 100+ pips, but instead i only banked around 70.

We can now see price surging - probably await some kind of pull back before pulling the trigger on longs

Comment:

This idea has aged well!

So, as per the description I didnt just blindly enter buys / sells (the postions mapped onto the chart are just indicative - as I always wait for the push down / up to start before jumping in

We have just been tapped in for TP1 and we are now seeing the market retrace a little which is expected before another push higher to TP2