NZDUSD : CLEAR HEAD & SHOULDERS PATTERN FORMING?
Hi traders!
As I looked through my charts this morning, NZDUSD spoke to me. I'm seeing a head and shoulder pattern forming on the daily time frame!
I'm torn though because I don't see the USD getting stronger but the NZD can make a case for itself to be a weak currency at the moment too. MACD is almost crossing and RSI bounced off the 50 line.
The RR is pretty awesome if this trade fall through, as the initial TP would be hit and I could let the price go down some more and just trail it.
NZDUSD SHORT :
ENTRY : 0.73199
SL : 0.73921
TP : 0.71117
For me, the 70 pips risk looks like it's worth it. It's a risky-er trade than the one I usually post but the analysis is on point.
Trade safe guys!
As I looked through my charts this morning, NZDUSD spoke to me. I'm seeing a head and shoulder pattern forming on the daily time frame!
I'm torn though because I don't see the USD getting stronger but the NZD can make a case for itself to be a weak currency at the moment too. MACD is almost crossing and RSI bounced off the 50 line.
The RR is pretty awesome if this trade fall through, as the initial TP would be hit and I could let the price go down some more and just trail it.
NZDUSD SHORT :
ENTRY : 0.73199
SL : 0.73921
TP : 0.71117
For me, the 70 pips risk looks like it's worth it. It's a risky-er trade than the one I usually post but the analysis is on point.
Trade safe guys!
Note
Oh yes it has started to drop!40 pips already!
Note
Up more than 120 pips!Patience is always key!
Trade active
This pair didn't find the strength again to go under 0.72. I will move again my SL to cover more pips in profit. I'll put mine around 0.72574Trade closed: stop reached
Touched SL by 2 pips! We covered around 70 pips in profit.Good job to everyone.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.