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Jaye
Nov 6, 2018 12:16 PM

Short then a probable long. Short

New Zealand Dollar/Canadian DollarFXCM

Description

We broke out of a head and shoulder and went ahead to form an ABCD pattern. Based off of the trend, I would short at point D based on my entry strategy with a target at the neck of the Head and Shoulder which is also the .382 level on Fibonacci? then based on what is going on, I may go long.

I do believe though that the descending trend line and the resistance at 0.8774 will be broken on the long term.
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