EURNZD STRUCTURE LONG TRADE

As always, patience pays the bills. I personally don't like taking trades for the sake of it. I wait until I have a very high probability of being right and I make sure I win more when I'm right than I lose when I'm wrong.

Here is a lovely little set up on the EURNZD.

Daily timeframe showing massively oversold at a Major structure level being tested. Loss of momentum shown by the descending channel and divergence on the RSI indicating a relief is due.
Thesis is that we should see some buy orders filled here and a small rally up to at least the start of the channel formation before locking in some profits. Secondary targets at the next previous structure level.

Great couple of weeks in the market especially thanks to the GBPJPY. Up 7%. Lets finish on a good one!.

See you guys in the platform.

Have a great day.

Jason G