Short-term trade EURNZD (15MS)
I don't usually trade 15MS charts, but this one might be interesting. As we can see, there was this rupture of an important resistance level, which lasted for about 6 days in a row, at around 1.69063. Should we go long? I think there are some important items to ponder about before making this decision:
1- check the RSI as well as the MACD, as you can see on the chart, I traced both to make sure they were pointing upwards;
2- A long-standing triangle was formed (black dotted lines), and those should be our target, in case we go long (I wouldn't short it, even because the Loss/Gain ratio would be really poor (less then 2/1).
3- check the volume! This is really important in order to verify whether your plan is been backed/supported, in a way or another, by other traders.
Do you want more hints and ideas? Follow me and LevelUp Trading staff team to check more!
Trade responsibly!
1- check the RSI as well as the MACD, as you can see on the chart, I traced both to make sure they were pointing upwards;
2- A long-standing triangle was formed (black dotted lines), and those should be our target, in case we go long (I wouldn't short it, even because the Loss/Gain ratio would be really poor (less then 2/1).
3- check the volume! This is really important in order to verify whether your plan is been backed/supported, in a way or another, by other traders.
Do you want more hints and ideas? Follow me and LevelUp Trading staff team to check more!
Trade responsibly!