EURNZD produced a strong bearish daily candle yesterday. On the H4 chart, the price started having a correction as well. Today’s intraday price action has been choppy. However, a level of resistance has still been held. If the level produces an H4 bearish engulfing candle, an H1 breakout at yesterday’s lowest low would be the signal to go short on the pair. Let us have a look at the H4 EURNZD chart.
This trade idea was generated by our powerful Elite Swing Trader System.
Free Forex Trade Signals EURUSD – 26th Sept 2019
Yesterday the price came up to the level of 1.72915 and started having an upward correction. The level of 1.73745 has been held which was a level of support earlier. The level already produced an Inverted Hammer. If the level produces an H4 bearish engulfing candle followed by an H1 candle breaching through the level where it had a bounce from, then the price would head towards the South at a good pace. Let us have a look at the summary of the trade…
- Entry: H1 breakout at the level of 1.72915
- Stop Loss: Above 1.73745
- Take Profit: 1.71000
The current H4 candle may not be the H4 bearish reversal candle that we are to wait for. One includes the London open that maybe the H4 bearish reversal candle we are waiting for. Thus, the pair may not have enough time to reach the target since it is Friday. If it hits the Take Profit, it is fine. Otherwise, we shall come out with a profit or loss before the market closes today. We are on the last Friday of September. Some pairs may start with gaps next week.
For more trade ideas, join the Price Action Society…
If you like our analysis and would like to receive 3 to 7 trade ideas per day, then
click here to learn more about the Price Action Society.
The post Free Forex Trade Signals EURNZD – 27th Sept 2019 appeared first on Advanced Forex Strategies.
from Advanced Forex Strategies
No comments:
Post a Comment