My previous analysis of EURNZD Sell entry was to wait for a daily bear candlestick formation. We have multiple bear candles below the downwards channel on the weekly.
Entry:
1. Sell at retest of weekly downtrend line @ .8920 area.
2. Current price of 0.8863 area
Indicators:
1. Pair currently trading in downwards channel acting as resistance.
2. Daily Uptrend line has been broken and back has been retested as resistance
2. Weekly RSI overbought bulls are weakening.
4. Strong Daily Bearish Candlestick close
TP levels:
Take short TP levels of 40-50 as this pair is can still consolidate or move downwards slowly.
Good luck trading!
Let me know how I can help.
Charles V
CVFX Management
www.cvfxmanagement.com
@cvfxwealth
Trading made simple.
Entry:
1. Sell at retest of weekly downtrend line @ .8920 area.
2. Current price of 0.8863 area
Indicators:
1. Pair currently trading in downwards channel acting as resistance.
2. Daily Uptrend line has been broken and back has been retested as resistance
2. Weekly RSI overbought bulls are weakening.
4. Strong Daily Bearish Candlestick close
TP levels:
Take short TP levels of 40-50 as this pair is can still consolidate or move downwards slowly.
Good luck trading!
Let me know how I can help.
Charles V
CVFX Management
www.cvfxmanagement.com
@cvfxwealth
Trading made simple.
