AUDNZD - Head and Shoulders Pattern at Structure Level

Short

Australian Dollar / New Zealand Dollar (FX:AUDNZD)

FX:AUDNZD Australian Dollar / New Zealand Dollar

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trendanalysis chartpattern traderevenuepro audnzd rsidivergence

Trading Confluence

Price is at 4-Hours Structure Level
Head and Shoulders Pattern indicate lack of buying pressure
Minor Trendline is broken
RSI Divergence

Trade Forecast
We will consider going short if price break below the local structure level (Blue zone) and looking to enter the trade on a retest of the local structure level targeting 1.06528 level.

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Comments

Nice work with head and shoulder.
Please let me know what you think of my idea

Reply

Lizabet

@Lizabet, It seems like you're planning to buy at minor support level from the 4-hour timeframe, right? How are you planning to buy from that level? Are you just placing pending orders (which is not a good idea) or are you waiting for confirmation before you place orders? That's the conservative way to go. I 'm going conservatively. The way you trade here is entirely up to you and your trading strategy.

Reply

Ok dear let's see

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