NZDUSD long – solid +4.5R setup – the week of 20 Mar 2023
My chart says it all, this one does not need much explanation. The H&S can also be seen on the daily chart.
Ideally, I would like to see a small retracement to the neckline, but will be happy to take the trade even at current price.
My initial target will be the distance between the head and neck line but this could easily extended to the next resistance zone.
Nothing is 100% in trading, so as always, use sound money and risk management and stay patient in all your trades. If you like my analysis, please give it a “thumbs up” and follow me to get even more awesome content.
What do you think about this trade idea? Please comment and share your thoughts!!
Ideally, I would like to see a small retracement to the neckline, but will be happy to take the trade even at current price.
My initial target will be the distance between the head and neck line but this could easily extended to the next resistance zone.
Nothing is 100% in trading, so as always, use sound money and risk management and stay patient in all your trades. If you like my analysis, please give it a “thumbs up” and follow me to get even more awesome content.
What do you think about this trade idea? Please comment and share your thoughts!!
Trade closed: stop reached:
got stopped out. This may still work out next week.