Perfect setup. The multimonth correction is in my opinion over. Look at this tasty ending diagonal, if it plays out, there is some big pips to be made.
We have a dynamic impulse after the NZ-Unemployment report. It came in very weak.
Market made a false breakout to the downside, and now it broke the golden trendline.
Watch for a potential flag, or corrective pattern toward 1.4700/1.4730 and enter with a stop at 1.4620.
Target something big higher, my first target is the 1.55 area, and then 1.72.
This position has a nice Risk:Reward ratio.
Keep an eye on the fundamental development. Eurozone CPI, and NZ CPI are important drivers.
Please use wise moneymanagement and risk control.
Blessings to you all.
We have a dynamic impulse after the NZ-Unemployment report. It came in very weak.
Market made a false breakout to the downside, and now it broke the golden trendline.
Watch for a potential flag, or corrective pattern toward 1.4700/1.4730 and enter with a stop at 1.4620.
Target something big higher, my first target is the 1.55 area, and then 1.72.
This position has a nice Risk:Reward ratio.
Keep an eye on the fundamental development. Eurozone CPI, and NZ CPI are important drivers.
Please use wise moneymanagement and risk control.
Blessings to you all.
Trade active
Trade active
Risky trader: Buy now 1.4715 with a 60 pip stop Conservative trader: buy on the break of the flag with a larger stop.
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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.