2016-04-27_00-06-10eurnzd

Dear all,

If price does not break the daily resistance area and price stays below the 50 day moving average then it would be nice to take the stochastic cycle down.

The stop loss that can be placed over the moving average where the risk to reward would be quite nice.

But only if the stochastic crosses downwards.

2016-04-27_00-15-00eurnzd4h

The four hour chart provides a clearer picture of this coil.

We are interested in trading an overbought stochstic cycle down

Therefore price is not ready yet but price is starting to break out.

2016-04-27_00-20-59eurnzd15min

It would be interesting to see the lower boundary of the coil on the 15 min chart being tested acting as resistance right at number 3.

If price moves back in the coil then the short trade idea is no longer valid.

BEST OF PIPS

One thought on “Cornering Price on the EURNZD”

  1. Jim Reddihough says:

    Looks like it might go up to weekly M4 R2 area before it reverses?

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