EURNZD, 4hr tf, sell the wedge pattern breakout
Trade ideas for EURNZD by Hardi
As you can see, a potential rising wedge pattern could be in play. The target should be around 1.6810-20 area.
Right now price retracing at the 61.8 fibonacci level after breaking below the support. This could be a short opportunity for this pair as it is now at an interesting level.
Using elliott wave principle, we might assume this as ending diagonal as well. Both pattern point towards the same target area.
Sell EURNZD 1.7015
Stop loss 1.7045
Take profit 1.6820 (6.2R)
Use only 1-2% risk
Good luck
As you can see, a potential rising wedge pattern could be in play. The target should be around 1.6810-20 area.
Right now price retracing at the 61.8 fibonacci level after breaking below the support. This could be a short opportunity for this pair as it is now at an interesting level.
Using elliott wave principle, we might assume this as ending diagonal as well. Both pattern point towards the same target area.
Sell EURNZD 1.7015
Stop loss 1.7045
Take profit 1.6820 (6.2R)
Use only 1-2% risk
Good luck
