TradingTechs
Short

NZDUSD H&S break and theoretical projection

OANDA:NZDUSD   New Zealand Dollar / U.S. Dollar
120 6 13
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
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)
Comment: Testing the neckline again. A close above wont be good for shorts.
snapshot
Comment: No close above trendline. Idea still valid
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
please what are your analyse right now
Reply
TradingTechs samehprimo
@samehprimo, Hi it's still the same for now
+1 Reply
samehprimo TradingTechs
@TradingTechs, thanks
Reply
TradingTechs samehprimo
@samehprimo, No worries
Reply
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.
Reply
TradingTechs PashaUstimenko
@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
Reply
English
English (UK)
English (IN)
Deutsch
Français
Español
Italiano
Polski
Türkçe
Русский
Português
Bahasa Indonesia
Bahasa Melayu
ภาษาไทย
Tiếng Việt
日本語
한국어
简体
台灣
Home Stock Screener Forex Signal Finder Cryptocurrency Signal Finder Economic Calendar How It Works Chart Features House Rules Moderators Website & Broker Solutions Widgets Stock Charting Library Feature Request Blog & News FAQ Help & Wiki Twitter
Profile Profile Settings Account and Billing My Support Tickets Contact Support Ideas Published Followers Following Private Messages Chat Sign Out