Quick pullback trade to the daily Fib 0.618 level marked on the chart.
4hr bullish TL broken and retested.
Daily timeframe candlesticks closing bearish .
Price is rejecting the 1.6750 resistance zone .
As always, patience pays the bills. I personally don't like taking trades for the sake of it. I wait until I have a very high probability of being right and I make sure I win more when I'm right than I lose when I'm wrong.
Here is a lovely little set up on the EURNZD.
Daily timeframe showing massively oversold at a Major structure level being tested. Loss of...
Price currently around a daily/weekly resistance support 1.6000
A trendline break has occurred with slowing momentum, indicating a trend change might be on the way. the 4H and 1H printed a bearish divergence with the RSI, now the 1H trendline and daily pivot are being tested. Entered after ECB interest rate decision around today's highs. Additionally if this one...
As you can see EURNZD pair recently enjoyed a good rally mainly due to weakness of NZD. Now that the price has reached to a Resistance level where this pair has reacted on a number of occasion. Similar level has worked as a support as well. I will be looking for a bearing engulfing candle to go short on this. First tp will around that marked support...