Thursday, November 29, 2012

EURNZD Triangle Trade EURNZD Triangle Trade
Triangle breakout trade is coming up in EURNZD. The setup looks promising.

The lower trendline is in place since 7-Nov, while the upper trendline is in place since last day of Oct. Currently price is consolidating near the lower trendline. Price is also near to 200EMA & 100EMA. 

I would like to go long on a break and daily close above the upper trendline aiming for 23-Oct highs. 

I will go short on break and daily close below lower trendline aiming for lows of 13-Nov & 20-Nov.

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