EURNZD 4hr Short Setup
Trade what we see:
EURNZD has a lovely support trendline which tracks back on the daily chart to January 2018.
This trend line has now been broken and we are below the 50% retracement level. This is the second re-test of the broken trendline and we can see a lot buyers and sellers getting trapped.
I am cautiously entering this short but my two main concerns are: Italy and bigger pull back over such a bearish run.
I've placed my stop above the next fib level which should act as some protection.
EURNZD has a lovely support trendline which tracks back on the daily chart to January 2018.
This trend line has now been broken and we are below the 50% retracement level. This is the second re-test of the broken trendline and we can see a lot buyers and sellers getting trapped.
I am cautiously entering this short but my two main concerns are: Italy and bigger pull back over such a bearish run.
I've placed my stop above the next fib level which should act as some protection.
Clause de non-responsabilité
Les informations et les publications ne sont pas destinées à être, et ne constituent pas, des conseils ou des recommandations en matière de finance, d'investissement, de trading ou d'autres types de conseils fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.