Get started
mrrosstrader

EURNZD - Short

Short
Euro / New Zealand Dollar (FX:EURNZD)  
mrrosstrader Updated   
FX:EURNZD   Euro / New Zealand Dollar
Support and Resistance Fibonacci Trend Lines EURNZD structure-trade
2
8
supportandresistance fibonacci trendline eurnzd structure-trade
EURNZD

We can see that this pair approached a big resistance area and is a good place to take a short trade. The RSI is also overbought and I put the SL 30 pips above the high of the wig and the risk:rewar ratio is just insane on this one, so I am very comfortable to take this trade now before waiting for confirmation. You can wait for a break of the channel that I drew just for confirmation to take the trade. If it breaks to the upside it can go as far as the 1.8000 level.

Have a nice trading day :)
Trade closed: stop reached:
snapshot

Now I am looking for a pullback to go long in this pair
Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.