Dear Traders
The trade idea is position trade of holding it long term followed by confluences to support my set up with Risk Management of 1-2% risk.
1. 16th March 2020 is where Weekly Candlestick hitting all time high for Euro/NZD at 1.99271
2. Price immediately was reversed by a downtrend of price retracing back towards monthly support: 1.7100, however the end meets and price reversed with a morning star pattern at 1.7200
3. Price remain bullish after breakout, i am waiting for a retest/pullback to be found near daily level: 1.7625 for price to continue impulsive phase.
4. NZD was one of the first economy to recover the pandemic levels along with other asian currencies, however Euro/Usd, Eur/Jpy has recovered well the pandemic levels.
5. EURNZD is a slow pair but the idea is worth the risk and with the confluences, i am taking this trade with 1:14% risk to reward ratio set up
However i am waiting for final confluences before this trade lift off, currently BUY LIMIT ORDER is set.
Risk: 164 pips
Reward: 2310 pips
The trade idea is position trade of holding it long term followed by confluences to support my set up with Risk Management of 1-2% risk.
1. 16th March 2020 is where Weekly Candlestick hitting all time high for Euro/NZD at 1.99271
2. Price immediately was reversed by a downtrend of price retracing back towards monthly support: 1.7100, however the end meets and price reversed with a morning star pattern at 1.7200
3. Price remain bullish after breakout, i am waiting for a retest/pullback to be found near daily level: 1.7625 for price to continue impulsive phase.
4. NZD was one of the first economy to recover the pandemic levels along with other asian currencies, however Euro/Usd, Eur/Jpy has recovered well the pandemic levels.
5. EURNZD is a slow pair but the idea is worth the risk and with the confluences, i am taking this trade with 1:14% risk to reward ratio set up
However i am waiting for final confluences before this trade lift off, currently BUY LIMIT ORDER is set.
Risk: 164 pips
Reward: 2310 pips
Haftungsausschluss
Die Informationen und Veröffentlichungen sind nicht als Finanz-, Anlage-, Handels- oder andere Arten von Ratschlägen oder Empfehlungen gedacht, die von TradingView bereitgestellt oder gebilligt werden, und stellen diese nicht dar. Lesen Sie mehr in den Nutzungsbedingungen.
Haftungsausschluss
Die Informationen und Veröffentlichungen sind nicht als Finanz-, Anlage-, Handels- oder andere Arten von Ratschlägen oder Empfehlungen gedacht, die von TradingView bereitgestellt oder gebilligt werden, und stellen diese nicht dar. Lesen Sie mehr in den Nutzungsbedingungen.