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Short

NZDUSD H&S break and theoretical projection

OANDA:NZDUSD   NZD/USD
109 6 13
21 days ago
NZDUSD             broke the H&S neckline. Theoretically its projected to extend down into 0.67 which coincides with major support (Green Rectangle, cluster of highs and lows from the beginning of the year which acted as support & resistance). The PA also agrees with this with 3 big purple candles and aggressive sellers from the high of the right shoulder. A retest and subsequent rejection of the neckline should help a follow-through
20 days ago
Comment: Rejection on neckline resistance as discussed. Accompanied by a bearish close should see some follow-through in the idea. First reference point 0.6955 (swing low)
18 days ago
Comment: Testing the neckline again. A close above wont be good for shorts.
snapshot
17 days ago
Comment: No close above trendline. Idea still valid
15 days ago
Comment: Took it's time with the neckline. Needs a daily close below 0.6985 area (small swing low) to confirm a move towards the bigger swing low at 0.6955. Should accelerate through the second level
Disclaimer: Ideas and reports for educational purposes only. Not investment advice.

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PashaUstimenko
16 days ago
Good idea, but ... the main reason for paying attention to the head-and-shoulders pattern is because a large number of other traders trade on this pattern but be careful with this one.
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TradingTechs PashaUstimenko
16 days ago
@PashaUstimenko, True, but as analysts we show it. Break of the trend line is as important if not more important but time will tell. Thanks for your input
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samehprimo
13 days ago
please what are your analyse right now
Reply
TradingTechs samehprimo
13 days ago
@samehprimo, Hi it's still the same for now
+1 Reply
samehprimo TradingTechs
13 days ago
@TradingTechs, thanks
Reply
TradingTechs samehprimo
13 days ago
@samehprimo, No worries
Reply
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