Hey guys,
here on EURNZD i'm ready to go short. Do you want to know why? Here's explained: first of all, i've outlined a key structure on the daily chart (yellow box), then i lowered my timeframe to 4hr chart and there i saw different clues pointing on the same reversal direction. We've a Gartley pattern completed and still valid, we've an AB=CD pattern just completed, right at a psychological number. Finally, price has also created a candlestick pattern that signifies selling pressure and power (being a pinbar+engulfing).
With a small retracement i'm taking a short with stops above highs and X and targets as shown.
If you have questions or ideas to share, feel free to comment below.
Otherwise, see you in the next chart!
here on EURNZD i'm ready to go short. Do you want to know why? Here's explained: first of all, i've outlined a key structure on the daily chart (yellow box), then i lowered my timeframe to 4hr chart and there i saw different clues pointing on the same reversal direction. We've a Gartley pattern completed and still valid, we've an AB=CD pattern just completed, right at a psychological number. Finally, price has also created a candlestick pattern that signifies selling pressure and power (being a pinbar+engulfing).
With a small retracement i'm taking a short with stops above highs and X and targets as shown.
If you have questions or ideas to share, feel free to comment below.
Otherwise, see you in the next chart!
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First target hit! Stops to breakeven now.