RevenueTrader

AUDNZD - Head and Shoulders Pattern at Structure Level

Short
FX:AUDNZD   Australian Dollar / New Zealand Dollar
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, 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
Reply
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