A Bullish pennant pattern spotted on
EURNZD
, along with a Hidden Bullish Divergence found at the .618 Fib level of the June 28 bull run which started the pennant following an even stronger bull run started June 14. Stoch also on under sold territory.
Measuring the distance from the previous high of the move that started the bull run on June 14 up to the bottom of the pennant which is also the high of the move started June 28th we have a range which we will carry over to look for a target.
Our target will be measured from the high (1.71608) of the bear run into the .618 fib level (Using this high as a conservative measure)
We have our main target is at 1.74334
My entry 1.71414
SL 1.70653 ( Fib level .786 )
Entry 1,71414
SL 1,70653
Pip count
Pips Lost 761
Profit Target 1 1,72319 905
Profit Target 2 1,72968 1554
Profit Target 3 1,74334 2920
EURNZD
, along with a Hidden Bullish Divergence found at the .618 Fib level of the June 28 bull run which started the pennant following an even stronger bull run started June 14. Stoch also on under sold territory. Measuring the distance from the previous high of the move that started the bull run on June 14 up to the bottom of the pennant which is also the high of the move started June 28th we have a range which we will carry over to look for a target.
Our target will be measured from the high (1.71608) of the bear run into the .618 fib level (Using this high as a conservative measure)
We have our main target is at 1.74334
My entry 1.71414
SL 1.70653 ( Fib level .786 )
Entry 1,71414
SL 1,70653
Pip count
Pips Lost 761
Profit Target 1 1,72319 905
Profit Target 2 1,72968 1554
Profit Target 3 1,74334 2920
Trade closed: target reached:
TRADE CLOSED. Profit Target 3 1,74334 Pip Count 2920
SL 1,70653
Pip count
Pips Lost (sl) 761
Profit Target 1 1,72319 Pip count 905
Profit Target 2 1,72968 Pip Count 1554
Profit Target 3 1,74334 Pip Count 2920