mcpeacocks
Short

NU short on H&S and overbought RSI

FX:NZDUSD   New Zealand Dollar/U.S. Dollar
2 months ago
there appears to forming a head and shoulders pattern on NU. Also RSI and Stoch seem overbought.
Weekly chart showed a bearish pin two weeks ago, and price is now at 50% retracement of last major swing down.
All in all, this seems a nice opportunity to short NU. although there is the obvious risk of FOMC ahead, so small trade size...
TP1 a the neckline, TP2 at 1.618 extension

just my idea, appreciate feedback and or constructive criticism
good luck
2 months ago
Trade active: TP1 hit
120 pips in the pocket. Stops to BE
2 months ago
Trade active: neckline finally broken. pulled stops to just above 0.72 and letting this ride
2 months ago
Comment: TP2 hit and passed. letting this run at trailing stop
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