YongLiang
Short

NZD/USD, DAY CHART, SHORT (20-NOV-2016)

OANDA:NZDUSD   New Zealand Dollar / U.S. Dollar
A potential Head & Shoulders Pattern appeared.
If the price breaks the support zone near 0.70xx, look for any pullback to short this pair.

It will be a high risk to reward ratio pair of 1:3!

Remember to trade with proper risk management.
Comment: Monitoring closely now as the price is trying to breaks the support zone to complete a head and shoulders trade!
Trade active: Short this pair with little amount. When pull back happen will be attractive to short again.

EP: 0.70014
SL: 0.71457
TP: 0.67260
Trade closed: stop reached: Too bad the SL was hit.
We should close it early as discretionary exit...

Trade Safely :)
hi yong, thanks for your sharing.

Just wonder how to expect to drop to 0.66. Not 0.65?

thanks anyway.
Reply
YongLiang happyluckydog
@happyluckydog, Hi, there is a support level at 0.66 which can be used as TP.
Besides, if based on price projection from the "Head & Shoulders" Level, it might go down to 0.65.
Anyway, we are still waiting the price to break the current support zone and a right signal to entry :)
Reply
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