MTayaib

EURNZD SHORT SETUP HEAD & SHOULDERS

Short
FX:EURNZD   Euro / New Zealand Dollar
Daily Ascending CTL (Counter-TrendLine) has been broken. As a reversal pattern we have got a Head & Shoulders formation on the Daily. I will be looking for a break and retest of the neckline (1.70350-1.7000) before going short.
Target 1: 1.67500
Target 2: 1.6500
Target 3: I will use my method to keep trailing stops using the Daily Time Frame until I get stopped out
Comment:
Trade closed: target reached: +240 pips, 2nd position stopped out at 100 pips