EURNZD: Bullish Expanding Triangle - Daily Chart- Edited
Using Market Structure, EURNZD has formed a Bullish Expanding Triangle Pattern. I see a swing short position in the resistance zone area of 1.82911-1.82391. After predicting that price will fall, it will complete the pattern around the price area of 1.74219 thus reversing for a long position.
I've already entered for a short at entry price of 1.82362 and set a stop-loss at the parameter of 1.83100 (55pips). I recommend a 33pip stop loss, the reason I set mine higher is because I entered hours before the market closed.
Risk: -55 pips
Reward: +736 pips
Chart Patterns Link
https://www.forexboat.com/forex-chart-patterns-guide/
I've already entered for a short at entry price of 1.82362 and set a stop-loss at the parameter of 1.83100 (55pips). I recommend a 33pip stop loss, the reason I set mine higher is because I entered hours before the market closed.
Risk: -55 pips
Reward: +736 pips
Chart Patterns Link
https://www.forexboat.com/forex-chart-patterns-guide/
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