EURNZD: Classic Double Bottom Trade Explained

2 ביוני 2020

hey guys,

long trade went active this morning on EURNZD.

reasons:
the pair has reached a strong daily/4h structure.

based on that the market has stoped and formed a double bottom formation on a lower timeframe.
then after a confirmed bullish breakout of a minor structure, I went long on 382 retest of a minor bullish leg.

now I anticipate a bullish continuation.

with stop lying below the bottoms, the position is protected.
targets are based on hourly structure.