the pair broke through the trendline earlier on into last week and has made a long retracement back to it.
the price is currently bouncing off the trendline
double top pattern has formed on 15min chart
price can travel all the way down to daily level
stops above TL, TP at 0.84215
entry order placed at neckline of 15min double top (0.86064)
NZDUSD builds a Doubletop at a D1 resistance with an overbought RSI on the left high. For further confirmations I'll wait for a close/break of the Doubletop's neckline. Furthermore the price (M240) rised within a channel. The break of the neckline correlates with a breakout of this channel. I think this could be a good short opportunity on this pair =)
April Lean Hogs is fighting lower prices. The last 3 days were crazy. We may continue uptrend on Monday as Feb Lean Hog (see below) has created a Harami pattern suggesting higher prices. The USDA index for Lean Hog is 68.11 area and has been rising. If we get a triple top, we may be looking at even higher prices. Next USDA index comes out at 8:45 Chicago time....
on the 4HR timeframe USDJPY has formed a clear bat pattern now
on the lower timeframe we can see a nice potential double top forming.
IF price retraces down to the 115.000 level, there's an opportunity for a quick short scalp to yesterdays high of the day (HOD)
keep note, risk to reward isn't that great, must keep an active moving SL