The EURNZD chart below was posted on social media @AidanFX July 13 2021 showing the possible bullish patterns. Green bullish pattern triggered BUYS at the XA 0.886% Fib. retracement level which was perfectly in the purple demand zone. More added reason the pair could push higher was a bullish divergence pattern also formed in the same confluence area demand zone and the lower line pitchfork (blue) was also situated in the same demand zone which added more of a support zone. All these patterns combined together gave me more confidence that the pair could rally higher. July 13 2021 I posted on social media “EURNZD will be watching for buying opportunities as long as price stays above 1.6750. Bullish patterns are visible.” I entered the BUY trade at 1.6785 with Stop Loss at 1.6735 projecting a move higher with the 1:2 RR as the minimum target. A trader should always have multiple strategies all lined up before entering a trade. Never trade off 1 simple strategy. When multiple strategies all line up it allows a trader to see a clearer trade setup.
EURNZD 1 Hour Chart July 13 2021
EURNZD has moved higher and on July 15 2021 price hit the 1:3 RR target at 1.6935 from 1.6785 for +150 pips. At the moment the pair has made a pullback and we remain bullish the pair can push higher towards the 1.71 handle. If you followed me on social media @AidanFX you too could have caught the EURNZD move higher. We at EWF never say we are always right. No market service provider can forecast markets with 100% accuracy. Only thing we at EWF 100%, is that we are RIGHT more than we are WRONG.
Of course, like any strategy/technique, there will be times when the strategy/technique fails so proper money/risk management should always be used on every trade. Hope you enjoyed this article and follow me on social media for updates and questions> @AidanFX
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