eurnzd price action signal hit target

We recently have been discussing the bearish rejection candle price action signal that formed on the the EURNZD daily chart, where the dominant trend was down so we were hunting for a sell opportunity, we covered a bearish rejection candle that formed when price broke through a major weekly level, retraced back up and tested it as new resistance, confirming the swing point. This produced a high probability trade setup and we have just seen the trade hit our 300% target, watch the trade demonstration below to see how we executed this one.

Watch a live demonstration of this trade

[iframe width=”600″ height=”372″ src=”http://www.youtube.com/embed/fPwM_medAHc” frameborder=”0″ ]

Previous Discussion on this trade

eurnzd inside day at market hot spot

Today’s chart is an update on the EURNZD trade setup that we spoke about in this week’s market commentary. As we can see on the chart above a large bearish rejection signal has formed at a trend hot spot, which is comprised of multiple factors of confluence that are concentrated on one spot on the chart to produce a high probability trade signal.

Last session produced an Inside day signal, but did also show rejection of that weekly level and close lower than the open. For those who used the retracement entry method from the Price Action Protocol trading course would have been triggered into this trade now, stops ideally would be above the high of the large rejection candle + spread added.

Previous Post

eurnzd price action forex signal at market hot spot

At the close of last week’s trading a bearish price action reversal signal formed on the EURNZD daily chart at an area which the Price Action Protocol trading course describes at a marke hot spot. These market hotspots combined with a price action signal create high probability – high reward trade setups. The market rejected a price test of a swing level which is also a significant weekly resistance level. We aim to buy in times of strength in weak markets to utilize the excellent entry price into trends this provides us. If price breaks this signal candle low it will open up the way for plenty of movement down south.

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