Mid LT Bullish Outlook EURNZD

Hello guys,

A very nice LT channel has been formed, remember a channel has to be "envisioned" which represents the best fit for the price movements. Therefore, drawing chart patters is quite an art.

Conservative set up:
-A higher high has been formed, almost a higher low, we want to wait the breakout of that higher high to be sure the trend has reversed. It is a very conservative approached.
-Stop Loss 65 pips
-Take Profit 220 pips
-Even if conservative, a nice 3:1 risk-reward.

Aggressive but "loss conservative" set up:
- A consolidation has been formed and that might be the higher low. Plus, it is in proximity of an important support zone. A buy stop order can be placed on the break out of that consolidation.
-Stop Loss 65 pips
-Take Profit 400 pips
- A more aggressive set up, but the risk-reward is way better --> 6:1 RR ;)

Notice that it might take some time, around 1-2 weeks to reach target, since volatility is quite low, around 50 pips on average according to ATR.

Remember always risk no more than 1% of your capital per position.

Be patient, stay calm but trade like a shark!

Cheers,

Sebastiano