EUR/NZD: Exhausted impulse? keep an eye on this Short idea!
Hello, everybody, and welcome to my TradingView’s profile, my name is Gianni and today I’m going to analyse the EUR/NZD, translating the market information by using a full technical analysis on different time frames, giving you a personal opinion about the next most likely market movement and helping you to spot and manage market opportunities.
My ideas are for those who are interested in improving their financial education and for those who are looking for new trading opportunities, according with their own strategies.
Weekly timeframe:
Daily timeframe:
4 hours timeframe:
Recently, the market got a really strong bullish impulse from the lower to the higher part of this huge daily descending channel and was recently showing signs of weakness.
It currently broke the pattern and is retesting it, with a good possibility of a movement to the downside, considering an overall downtrend in higher timeframes.
When, where and why would I step into the market?
Before entering the market in the current area of breakout, I will be looking for a good entry point in a lower timeframe (1h or 30min), as you can see on the chart, the responsive movement trying to push the price back inside the pattern is quite weak, clue that possibly buyers are not interested in that level anymore.
My stop loss would be just above the last swing high and the take profit around the demand zone.
I will be trailing my stop loss on every new confirmed swing.
If you enjoy this trade idea, please support my work with a thumb up and don’t forget to follow my profile for more detailed market analyses!
Trade safe and responsibly,
Gianni
DISCLAIMER
Please note the views are not investment advice and should be used only for educational purpose
My ideas are for those who are interested in improving their financial education and for those who are looking for new trading opportunities, according with their own strategies.
Weekly timeframe:
Daily timeframe:
4 hours timeframe:
Recently, the market got a really strong bullish impulse from the lower to the higher part of this huge daily descending channel and was recently showing signs of weakness.
It currently broke the pattern and is retesting it, with a good possibility of a movement to the downside, considering an overall downtrend in higher timeframes.
When, where and why would I step into the market?
Before entering the market in the current area of breakout, I will be looking for a good entry point in a lower timeframe (1h or 30min), as you can see on the chart, the responsive movement trying to push the price back inside the pattern is quite weak, clue that possibly buyers are not interested in that level anymore.
My stop loss would be just above the last swing high and the take profit around the demand zone.
I will be trailing my stop loss on every new confirmed swing.
If you enjoy this trade idea, please support my work with a thumb up and don’t forget to follow my profile for more detailed market analyses!
Trade safe and responsibly,
Gianni
DISCLAIMER
Please note the views are not investment advice and should be used only for educational purpose
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