Power Move on EUR/NZD for just over 1%.
Confluences +ve:
Weekly:
-The weekly chart has shown a nice bearish run off resistance.
Daily:
-Rejection of resistance
-Bearish Engulfing Candlestick
4HR:
-Trending below the 50EMA
-LL lows made
-Bearish MACD Divergence
-Head and Shoulders Pattern
1HR:
- Continuous LL and LH
-Breakdown from rising wedge
-Bearish MACD Divergence
-LL followed by retracement back to 38.2 fib and pivot.
-Bearish Engulfing pattern.
NOTE:
This trade was just an extension of the bigger picture. As you can see the bearish run has been building over a few days. I missed the first entry, which I would of taken and ran of taken down to daily support for a possible 5%. I would of scaled in with this day trade.
Confluences +ve:
Weekly:
-The weekly chart has shown a nice bearish run off resistance.
Daily:
-Rejection of resistance
-Bearish Engulfing Candlestick
4HR:
-Trending below the 50EMA
-LL lows made
-Bearish MACD Divergence
-Head and Shoulders Pattern
1HR:
- Continuous LL and LH
-Breakdown from rising wedge
-Bearish MACD Divergence
-LL followed by retracement back to 38.2 fib and pivot.
-Bearish Engulfing pattern.
NOTE:
This trade was just an extension of the bigger picture. As you can see the bearish run has been building over a few days. I missed the first entry, which I would of taken and ran of taken down to daily support for a possible 5%. I would of scaled in with this day trade.
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.