Hello guys,
Just want to bring to your attention this trade, I think it offers a very good risk-reward ratio especially if it turns out to be a buy. Yesterday, we saw that bullish reversal candle forming a double reversal pattern right at the yearly 38.2% Fibonacci level with stochastics forming a buy signal in the oversold area.
The right trading plan before initiating a long is to wait for a confirmation candle to form and that happens if today’s candle closes as a bull or there is a long lower wick which is about 80-90% of the candle. If that forms then we buy on the lower timeframe tomorrow upon confirmation.
EURNZD Daily Chart-28.06.2016
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2 thoughts on “EURO BOTTOMING UP,EURNZD DAILY ANALYSIS FOR 28.06.2016”
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Thanx Dalmas. Will keep an eye out tomorrow.
For sure, we shall trigger a buy-from all lows in the 15min chart- immediately there is a break above Friday’s high