$100k Challenge - EURNZD Short - Trade Update - E42 T1
Hey everyone!
We have a new activity on the challenge! The EURNZD short trade has been running for a long while now. I consider this trade to have a large upside potential as the market hasn't been able to make any significant bullish progress since it reached the support area several weeks ago.
In my opinion, this is a strong sign of seller pressure in the support area. However, we have a big news event coming up: inflation data for Europe. I see this category of news as one of the main 3 (inflation, unemployment, and interest rates).
When we have one of the main news events about to happen while having a trade running, I like to take strong defensive measures to prevent a turn-around in the position's PL. In this case, I decided to move the SL to 1ATR above the closest H4 resistance area.
Let's see how this news event plays out!
Until the next trade!
We have a new activity on the challenge! The EURNZD short trade has been running for a long while now. I consider this trade to have a large upside potential as the market hasn't been able to make any significant bullish progress since it reached the support area several weeks ago.
In my opinion, this is a strong sign of seller pressure in the support area. However, we have a big news event coming up: inflation data for Europe. I see this category of news as one of the main 3 (inflation, unemployment, and interest rates).
When we have one of the main news events about to happen while having a trade running, I like to take strong defensive measures to prevent a turn-around in the position's PL. In this case, I decided to move the SL to 1ATR above the closest H4 resistance area.
Let's see how this news event plays out!
Until the next trade!
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Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.
Penerbitan berkaitan
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.