EURNZD Sell trade idea price retested triple top neckline, which is also (50% - 61.8%) fib zone representing deep pullback.
New Zealand Dollar/Euro
No trades
Community discussions
๏ปฟEURNZD Sell trade idea price retested triple top neckline, which is also (50% - 61.8%) fib zone representing deep pullback.
EURNZD ๐ Market Bias๐ข Bullish Scenario Confirmed
Price is respecting a Weighted Moving Average (WMA) Pullback, indicating continuation strength after corrective structure.
๐ฏ Trade Plan
Strategy Used:
โ Weighted Moving Average (WMA) Pullback
โ Trend continuation logic
โ Momentum-following framework
๐ข Entry Plan
๐ Flexible Entry Zone
You may enter at any favorable price level, aligned with your own execution model and confirmation rules.
This setup is adaptable for both scalpers and swing traders, depending on timeframe selection.
๐ด Risk Management
๐ Stop Loss (Reference Level): 2.02000
โ ๏ธ Important:
Dear Ladies & Gentlemen (Thief OGโs), this stop level is for reference only.
Please adjust your stop loss according to:
Your strategy
Account risk tolerance
Position sizing rules
๐ Capital preservation always comes first.
๐ฏ Profit Objective
๐ฏ Target Zone: 2.05300
๐ Why this level matters:
LSMA Moving Average acting as dynamic resistance
Market showing overbought conditions
Potential liquidity trap & reaction zone
โก๏ธ Ideal area to secure profits and reduce exposure.
โ ๏ธ This TP is not mandatory โ manage exits based on your plan.
๐ Related Pairs to Watch (Correlation Insight)
๐ฑ EUR-Related Pairs
EUR/USD ($) โ Euro strength confirmation vs USD
EUR/AUD ($) โ Regional risk sentiment comparison
EUR/GBP ($) โ Euro relative performance in Europe
๐ If EUR pairs remain bid, EUR/NZD bullish bias stays supported.
๐ฑ NZD-Related Pairs
NZD/USD ($) โ Kiwi weakness strengthens EUR/NZD upside
AUD/NZD ($) โ Risk-on vs risk-off sentiment in Oceania
NZD/JPY ($) โ Carry-trade and risk appetite gauge
๐ Continued NZD weakness across the board favors upside continuation.
EURNZD +3r for me. Not complaining
EURNZD This worked out beautifully
EURNZD My thoughts/ predictions
EURNZD Looking forward
EURNZD No Risk = No Ferrari Hopefully this will hit my tp
EURNZD going long on this one
EURNZD Solid long setup, looking for a sweep of liquidity while filling imbalance and continue upward.
EURNZD ๐ฏ Key Levels & PlanEntry Zone: ANY PRICE near current levels is valid for a short position, favoring rallies into resistance. The breakout is the signal.
Stop Loss (SL): ๐ก๏ธ 2.0250 (Thief's SL - Reference Only)
๐ Dear Traders (Thief OG's): This is my strategic SL. ADJUST BASED ON YOUR OWN RISK & STRATEGY. Protect your capital first.
Take Profit (TP): ๐ฏ 1.9950 (Primary Target)
Why Here? Confluence of:
Triangular Moving Average (TriMA) acting as dynamic resistance.
Overbought conditions on higher timeframes.
"Trap Zone" โ Likely liquidity pool before a deeper move.
๐ Note to the Community: This TP is a logical technical target. Manage your own trade & take profits according to your plan.
โก Why This Setup? (The Edge)
Trend & Momentum: Price has broken and closed below the Kijun-sen, a key Ichimoku trend filter, indicating bearish shift.
Confluence: Bearish momentum aligns with a TriMA resistance and overbought readings, creating a high-probability rejection zone.
Risk/Reward: Favorable if entered at current or slightly higher prices.
๐ Related Pairs & Correlation Watch ($)
Monitoring these pairs can provide macro confirmation and warn of FX shifts:
AUD/NZD: ๐ก Positive Correlation. Both are "Aussie" and "Kiwi" vs. Euro. A weak AUD/NZD can sometimes reinforce EUR/NZD bearishness if the NZD is broadly strong. Watch for similar technical breaks.
EUR/AUD: ๐ก Inverse Correlation (Key Watch). Often moves inversely to EUR/NZD. If EUR/AUD is also falling, it confirms broad Euro weakness, strengthening our EUR/NZD bear thesis.
NZD/USD: ๐ก Direct NZD Gauge. A strong NZD/USD (Kiwi strength) supports our short EUR/NZD trade. Watch for NZD resilience against the USD.
EUR/USD: ๐ก Direct EUR Gauge. A weak EUR/USD (Euro weakness) is the primary driver for this trade. If EUR/USD breaks down, this EUR/NZD short gets a major boost.
๐ญ Correlation Summary: We want EUR weakness (down in EURUSD) and/or NZD strength (up in NZDUSD). The most powerful signal is both happening together.
