We hit our SL but are still looking at a valid set up for EURNZD as we reach the 1.6999. We are touching the trendline (M), completing a pattern (W), and hit a 127% extension on a daily.
3 pieces of evidence to make a compelling case. However, with extreme bearish momentum, we need a strong confirmation prior to entering.
Short term traders can use this to scalp pips.
RR - 1:3.88