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Hello, my dear friends and the fellow community members.
Based on the overbought and oversold conditions in the market in 4H charts I have the plan to open a short position in EURNZD if it goes below 1.6720 with the stoploss above 1.16780 and take profit target equal to 1.6620. The chart attached shows the setup. In this chart, the pair is overbought as the stochastics is above 70 levels and the upper Bollinger band has been tested. I will adjust the stoploss to breakeven once the price moves in my favor.
Happy trading to all.
Based on the overbought and oversold conditions in the market in 4H charts I have the plan to open a short position in EURNZD if it goes below 1.6720 with the stoploss above 1.16780 and take profit target equal to 1.6620. The chart attached shows the setup. In this chart, the pair is overbought as the stochastics is above 70 levels and the upper Bollinger band has been tested. I will adjust the stoploss to breakeven once the price moves in my favor.
Happy trading to all.
