NZD is weak for almost 2-3 weeks now. It is now getting a good replacement with opportunity to sell it on strength.
We have EURNZD pair selected for our bull case. The ride is long enough. Though our target is smaller than the target set on 4H for Flag pattern but we assume that it will hit the flag target.
We will take a limit order position right above 4H FVG formed at 2.00174.
I will place two Buy Limit orders at the same entry level:
Once TP1 is hit, I will move the SL of the remaining trade to Breakeven and let the second position run toward TP2.
Entry: 2.00174
SL: 1.9965
TP1: 2.00860
TP2: 2.02077
We have EURNZD pair selected for our bull case. The ride is long enough. Though our target is smaller than the target set on 4H for Flag pattern but we assume that it will hit the flag target.
We will take a limit order position right above 4H FVG formed at 2.00174.
I will place two Buy Limit orders at the same entry level:
Once TP1 is hit, I will move the SL of the remaining trade to Breakeven and let the second position run toward TP2.
Entry: 2.00174
SL: 1.9965
TP1: 2.00860
TP2: 2.02077
Trade active
Order is triggerred. Stay tuned.Note
Our TP1 Hit at 2.00860.Now moved SL to Break even, at entry point 2.00174, riding the TP2 target with 0 risk.
Let the trade run and hit our BE or TP2.
Trade closed: target reached
our BE Hit. 1st trade 1% Profit 2nd trade 0% Loss / profit.
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Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.