Hi Traders! EURNZD update and follow up of bearish opportunity is here. In the previous post here I mentioned “On the H1 chart we had a bearish divergence which we may consider as an evidence of bearish pressure and then the price moved lower and broke below the last low we may consider these as evidences of bearish pressure. In addition to this the price which was moving inside a bearish flag pattern has currently broken below it, we may consider this as another evidence of bearish pressure. We may now look for pullbacks and sells with more bearish evidences”. Lets see how this setup has developed now.
EURNZD H1 Chart:
On the H1 chart the price moved exactly as per our plan, the pullback that we were looking for happened and then the price moved lower exactly as we expected. We have collected nice profits with this trade.
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