OANDA:NZDUSD   New Zealand Dollar / U.S. Dollar
Hello traders. I hope you are all doing well. Today I will show you my potential trading plan for NZD/USD next week, if things go as I expect. This is a 4h tf and we can see that we have two inverted head and shoulders patterns on it. The first one is almost done, because the minimum target of this small h&s is around 0.6450, and if the price continues to go higher, we can expect the formation of another h&s, the bigger one. In that case, the price could reach 1.618 extensions, which coincides with strong daily support. In this area, we can consider taking a short position. After that, we can wait for the formation of the right shoulder and consider taking a long position if things continue to move towards this scenario. Otherwise, if the price reaches only the minimum taregt of this small H&S, it is an obvious sign of weakness, so the trading plan should be changed in accordance with the factors that occur in that case.
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