Hello everyone,
after being stopped out last week,
EURNZD
finally broke down. I have to say it made me sweat a bit, but my stop was very well protected by the 1.7100 level and Fibonacci retracements. If I could go back I would probably extend it a little bit further to have R1 on both 1h and 4h between price and SL.
Given price has been ranging between the 1.7100 and 1.6600 levels since the end 2017 until now (at the top of a year lasting uptrend) I'd say that price could now head toward the 1.5000 region or even lower (accumulation phase over)
TP set just before 1.6600
Check the link in my profile to get 2 free lessons and learn a professional approach to trading
after being stopped out last week,
EURNZD
finally broke down. I have to say it made me sweat a bit, but my stop was very well protected by the 1.7100 level and Fibonacci retracements. If I could go back I would probably extend it a little bit further to have R1 on both 1h and 4h between price and SL. Given price has been ranging between the 1.7100 and 1.6600 levels since the end 2017 until now (at the top of a year lasting uptrend) I'd say that price could now head toward the 1.5000 region or even lower (accumulation phase over)
TP set just before 1.6600
Check the link in my profile to get 2 free lessons and learn a professional approach to trading