EURNZD Sell Set-Up

Several factors coming together to suggest upcoming sell & potential trend reversal.

Price approaching upper trend line formed throughout 2022 on Day timeframe. This looks like the upper bound of a bearish pennant forming since 2020. Price seems to be testing a breakthrough of a bearish rising wedge seen on 4 hr candles (Formed Aug 25 - Sep12)-- this is the double op that formed over past 15 hrs. Additionally, bearish harmonic patterns formed recently on both 4 hr & Day timeframes, strongly suggesting a swing down.

Setting up as a Sell Stop, w/ entry just below current structure of past 15 h as confirmation of retracement/reversal.

SL just above same structure-- set this fairly wide, due to high historical spread on this pair. TP set at 3:1 of SL, also informed by structure & resistance levels.
Chart PatternsHarmonic PatternsTrend Analysis

免責事項