Remember last week I told you this week was going to be interesting week? Well, at least it started that way!
There are a few currency pairs that are trading in very clear conditions… And you know what we need to do once we have a clear currency pair right?
Just find an excuse to go either short or long.
We just need to find the right currency pairs to trade. As I’ve said before, find the right pairs to trade, and you’ll have 80% of the job done!
Dont worry too much about your entry system, etc.
Anyway, today there are plenty of currency pairs trading in a clear market condition and one of them is the EURNZD.
Long EURNZD signal
The EURNZD is one of the currency pairs that is trading in a very clear bullish condition.
Here is what the daily chart looks like:
Its clear that the EURNZD wants to continue its way up, therefore we need to look for long opportunities…
Ok, now we need to look at the short term charts and see where we could find a good possibility to go long.
Let me show you the 15 minute chart:
The EURNZD formed a new range in the 15M chart, while we are already in a bullish condition, that means that we can take the breakout of that range…
Here are the order details:
Entry stop order: 1.5330
Pretty good risk-reward ratio isn’t it?
What do you think about the market so far this week?
What currency pairs are you trading/monitoring?
Share your thoughts!