DAVID_GIRALDO

abcd+divergence within head and shoulders nzdusd

FX:NZDUSD   New Zealand Dollar / U.S. Dollar
71 4 2
ive been looking at nzdusd             as it is at the top of a channel on the dailies. going down into lower time frames price action is lining up good for short positions on kiwi dollar. rsi is showing divergence on many time frames and we have an abcd that formed at the end of last week. i expect price action to go bearish on higher timeframes so i am expecting a big drop from here on. blue dotted are targeted prices. lets keep in mind this could also go on to be a bearish bat pattern
red dot for what?
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DAVID_GIRALDO prince125700
it would be a sl placement around those areas. not specifically there though. sl is your choice. it can be just few pips above the recent high(and would probably be better placed) instead. this can turn out to be a bat pattern or as is itll be a big head and shoulders. so there will be a drop. i will not give you anything specific as to when. could be here or we could go for that bat. white dotted is my entry price. i do it this way to keep a cleaner chart
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