Hi guys,
on the daily chart EURNZD is in oversold condition and it's also testing a key structure zone. That's why i've highlighted the yellow box that you see above. In cases like this, i like to go on smaller timeframes looking for additional clues to take a trade. In this case i've found multiple hints: first of all, on the 4H chart we can see a couple of indecision bars (with big downside wick) and a strong engulfing candle at the end. Here, there's a double bottom with some sort of divergence and the price is headed to the upward direction. I'm going long with stops below the lows, and targets as shown.
If you have any question, feel free to comment beneath.
Otherwise, see you in the next chart!
on the daily chart EURNZD is in oversold condition and it's also testing a key structure zone. That's why i've highlighted the yellow box that you see above. In cases like this, i like to go on smaller timeframes looking for additional clues to take a trade. In this case i've found multiple hints: first of all, on the 4H chart we can see a couple of indecision bars (with big downside wick) and a strong engulfing candle at the end. Here, there's a double bottom with some sort of divergence and the price is headed to the upward direction. I'm going long with stops below the lows, and targets as shown.
If you have any question, feel free to comment beneath.
Otherwise, see you in the next chart!
הערה
I'm exiting half of my position after the daily candle close below the structure level, just to decrease my exposure
כתב ויתור
המידע והפרסומים אינם אמורים להיות, ואינם מהווים, עצות פיננסיות, השקעות, מסחר או סוגים אחרים של עצות או המלצות שסופקו או מאושרים על ידי TradingView. קרא עוד בתנאים וההגבלות.
כתב ויתור
המידע והפרסומים אינם אמורים להיות, ואינם מהווים, עצות פיננסיות, השקעות, מסחר או סוגים אחרים של עצות או המלצות שסופקו או מאושרים על ידי TradingView. קרא עוד בתנאים וההגבלות.