Hey guys,
EURNZD is in a very strong upward trend, you can see that by looking at the daily chart over the last month or so. A series of higher lows and higher highs certifies that trend and i want to take advantage of that by looking at long opportunities down on the lower timeframes, but only in the zones that i think are most important, like daily structure. Here you can see a yellow box representing a big structure zone that i'm paying attention to. Here, on the hourly chart, price went oversold and created a double bottom followed by a break of structure to the upside. This creates the condition for a 2618 trade and i'm taking this long if price will retrace at that level (blue line), with stops and targets as shown above.
If you have any idea/question, feel free to comment below.
Otherwise, see you in the next chart!
EURNZD is in a very strong upward trend, you can see that by looking at the daily chart over the last month or so. A series of higher lows and higher highs certifies that trend and i want to take advantage of that by looking at long opportunities down on the lower timeframes, but only in the zones that i think are most important, like daily structure. Here you can see a yellow box representing a big structure zone that i'm paying attention to. Here, on the hourly chart, price went oversold and created a double bottom followed by a break of structure to the upside. This creates the condition for a 2618 trade and i'm taking this long if price will retrace at that level (blue line), with stops and targets as shown above.
If you have any idea/question, feel free to comment below.
Otherwise, see you in the next chart!