SergeantPringles
Short

NZDCAD - Head and Shoulders at Retest of trendline and Resistanc

FX:NZDCAD   New Zealand Dollar/Canadian Dollar
32 0 4
Late feb we broke down from a pretty relevant trendline in NZDCAD             (solid blue line)
We are not retracing back into a massive resistancearea at the dashed blue lower angled trendline , as well as previous support as well as the near perfect retest of the talked about (solid) blue upward trendline . As a bonus we are also somewhat at the 618 retracment of the last swing low.
in this - like i said - very important zone of resistance we are now forming a head and shoulders . so look for sells if we can break below it. downside potential is quite big.
Comment: here the bigger picture
snapshot
Trade active: breakout happened pretty quickly. here is my rough target setup. pretty good risk reward overall
snapshot
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