EURNZD is currently in an ABC correction. We've completed wave B and now we're in wave C. The completion of wave B can be used as a strict invalidation level for our short play.
We can use a channel to gauge the target for wave C, which happens to be the -27 fibonacci extension of wave A.
Trade Idea:
- Watch for a correction to appear
- Enter on break of correction with stops either above correction or above invalidation
- Targets: 1.745 (600pips), 1.71 (900pips)
If this setup gets enough traction, we'll make sure to send updates and let you guys know when its active!
We can use a channel to gauge the target for wave C, which happens to be the -27 fibonacci extension of wave A.
Trade Idea:
- Watch for a correction to appear
- Enter on break of correction with stops either above correction or above invalidation
- Targets: 1.745 (600pips), 1.71 (900pips)
If this setup gets enough traction, we'll make sure to send updates and let you guys know when its active!
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