EURNZD Long Trade Entry

EURNZD has formed an impulse leg A and we are currently in the B correction which shows 3 waves at this stage. I expect a move back down to the low at 1.6715 and then a move to break out of the correction. It is possible that the correction will be a 5 wave structure but either way suggests a break to the upside. I have entered a short position down to the low where I will take profit and then enter the long position.

TP 1: 1.6800
TP 2: 1.6900

Yorum:

The price reversed to the bottom of the structure as expected. I took profit on my short there and entered the long. TP 1 was achieved where I partially closed my position.

My SL for the remainder of my position is at break even with TP 2 at 1.6900

İşlem kapandı: hedefe ulaştı:

TP 1 was achieved where I partially closed my position. Unfortunately the news from the ECB yesterday was very EUR negative and price closed out my remaining position at entry. Still a nice profit though.