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Euro / New Zealand Dollar
Long

Long EURNZD: 10 Reasons!

By glennmercer
Updated
EURNZD is completing a conglomerate of potential harmonic patterns to produce a highly confluent kill zone. In addition to a host of pattern completions, there is added support from a long term trendline and another strong S/R area further below price. SL is placed below the S/R area and targets placed at the .382 and .614 retracement of CD.

Confluence in the PRZ:
1. Bullish Gartley pattern completion
2. Bullish crab pattern completion
3. Bullish deep crab pattern completion
4. Bullish butterfly pattern completion
5. 2BC Projection
6. .786XA
7. 2.13AB=CD (Coincides with its .886AB reciprocal ratio)
8. 2.618BC Projection
9. Long-term trendline support
10. Strong S/R area

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Trade closed: target reached
T2 Achieved painlessly!
AB=CDBullish ButterflyBullish CrabBullish Deep CrabBullish GartleyButterflybutterfyconfluenceCrabDeep CrabEURNZDGartleyprojectionsPRZS/RsupportSupport and ResistanceTrend Lines
glennmercer
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