KIWI Likely To Break Inverse H & S Neckline On 4 Hour Charts !

Looking at the above chart snapshot, a bigger picture is showing that the price has been confined in a channel for a very long time!. KIWI now targets the 0.66300 area of interest of the upper channel. The main chart shows there is an inverse head and shoulders formed on the 4 hours charts. If this pattern break and the price retests the neckline we can opt to go LONG on this pair as it would confirm an upward consolidation move.

Comment:

seems to have broken the neckline but is not a convincing break!. i am waiting for more breakout pressure before we can go LONG (Of course after the retest of the neckline area)

Trade active:

ENTRY AT :0.6650
TP: 0.66700
SL: 065350
RR:1:1

Comment:

For those of you who did not get to enter on the spot please try to enter when the trade retraces at the around entry level. The GDP for NZD came above expectations and it spiked the NZD suddenly. However if you did not delay your entry then you are good to go!

Trade closed manually:

ADJUST SL TO 0.65500

Comment:

SORRY WRONG COMMENT. TRADING STILL ACTIVE. ADJUST SL TO 0.65500

Comment:

PLEASE CLOSE THIS POSITION. RETURN ON INVESTMENT 0.65% ON 1 % INVESTED

THE DAILY PRICE ACTION BUMPING INTO DAILY CHANNEL RESISTANCE