EURNZD Bullish Pennant

6 mar 2020

• Bullish Pennant created in EURNZD.
  HH and HL shows a quick uptrend before pattern start being made.
  Four touches between TL, so pattern is valid. Less than 21 days also.
  We look for a bullish breakout, as pattern is bullish and daily trend also.
  After the breakout, we see a re-test and entered position in the next candle (moment I saw the breakout). Its a bearish candle, but polarity has been made with the re-test so we open the trade anyway.
  Measure the previous uptrend and use same amount for TP2.
  TP1 is 50% movement of TP2.
  SL below Pennant minimum point.
  

9 mar 2020

Trade chiuso: obiettivo raggiunto

Todays´s GAP caused by OPEC and COVID-19 news, accelerate the movements and TP2 was hit. Price opened exactly in a historical value zone (Minor Zone).