EURNZD has made a huge move down and now its just pulled back up to the resistance filling a crab pattern.
The pattern has a nice risk to reward ratio as the resistance is strong on the weekly chart as well....
A nice place to short at 'D'....
With stops at 1.618 extension of 'XA'......
and
Target 1 at .382 retracement of 'CD'...
Target 2 can be trailed.....
The pattern has a nice risk to reward ratio as the resistance is strong on the weekly chart as well....
A nice place to short at 'D'....
With stops at 1.618 extension of 'XA'......
and
Target 1 at .382 retracement of 'CD'...
Target 2 can be trailed.....
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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.