MY TRADE SET-UP FOR NEXT WEEK

The EURAUD has a very similar pattern as the EURNZD with strongly bearish weekly candles which are followed by 2 bullish candles. If the weekly candle shows a Pinbar then I will be looking for a retracement to the 38.2 or 50% Fib and ready to short the EURAUD next week.

EURNZD short is waiting for a bearish weekly candle. When looking at the weekly chart it becomes visible that the 2 last weeks were bullish weekly candles so a bearish candle indicates the reversal.

If weekly candle closes similar to the screenshot, then it is an ideal candidate for such a reversal setup: a bearish candle with a wick on top and a close in the body of the previous weekly candle. I am interested in a short position upon the retracement to the 38.2 or 50% Fibonacci of the weekly bearish candle.