MARKET PHASE
EURNZD
is in a long term uptrend (daily) with a short term corrective structure that has been taking place (4 hour).
AREA OF VALUE
There was a buildup of liquidity (sell stops, shorts, long order stop losses) below the corrective structure swing lows. Price violently moved down to trigger the sell stops (liquidity) to pair against the buy orders needed to take price up. Price has now started it’s initial move up but due to the velocity of the upward move, it's gapped orders around 1.79741. Price has now retraced back to this level to meet the demand as we expected. We've just entered our long position with the following criteria, expecting price to continue its longer term uptrend...
TRADE
EURNZD
long position opened with the following parameters:
Buy Limit: 1.79741
Stop Loss: 1.79514
Take Profit: 1.80195
EURNZD
is in a long term uptrend (daily) with a short term corrective structure that has been taking place (4 hour). AREA OF VALUE
There was a buildup of liquidity (sell stops, shorts, long order stop losses) below the corrective structure swing lows. Price violently moved down to trigger the sell stops (liquidity) to pair against the buy orders needed to take price up. Price has now started it’s initial move up but due to the velocity of the upward move, it's gapped orders around 1.79741. Price has now retraced back to this level to meet the demand as we expected. We've just entered our long position with the following criteria, expecting price to continue its longer term uptrend...
TRADE
EURNZD
long position opened with the following parameters: Buy Limit: 1.79741
Stop Loss: 1.79514
Take Profit: 1.80195
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