1. Based on the last 16yrs of daily close data (since 01/01/2000 to date) EURNZD has a cumulative probability of a =>6th day lower at 0.5%, hence there is a implied 99.5% chance of reversal on the daily.
2. Also we see the Z-Score for, Monthly, 3m and 2wk all above 1SD.
3. Fundamentally I also like being long EUR given the ECBs new more neutral stance where monpol easing looks to be coming to an end.
Trading Strategy:
1. Buy EURNZD at market in 1xlot, and add 2x on each daily close lower from here. Start in small lots to reduce risk and ensure you can add on adverse moves lower. TP is the next daily close higher.
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EURNZD 2x Longs added on the 6th daily close higher to trade 0.26% higher currently
Very nice analysis. My technicals also give me bullish on this pair, but could use your advice on a TP. Thanks.
QuantumLogicTrading
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No problem.. Yeah these are just tactical daily positions, once entry is signalled, i either add longs on a close lower OR TP on a daily close higher since the stat pattern has finished.. fundamentally is a whole other picture and story!
QuantumLogicTrading
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and thanks for the compliment! check back for more of these kinds of trades