Why go against the trend? Newtons Laws perfectly describe the theory that what ever is moving in a certain direction will continue to move in that direction unless acted upon by another force
1. Head and Shoulders pattern forming on daily chart
2. Price rejecting common point on 4hr chart
3. Moving average crossover on 4hr chart
4. Inside bar formed on daily chart
5. Price retesting previous support on hourly chart
Enough confirmation for a SELL trade
SAFE TRADE:
SELL @ 1.61190
SL @ 1.62000
TP @ 1.61200
PATIENT TRADE
SELL @ 1.61190
SL @...
EUR/NZD is on a downtrend and is cutting back to a major support zone which will now be turned into a resistance zone.
1. This can be spotted clearly on the 4 hour chart
2. A reversal pin bar is spotted on the daily timeframe
3. Double Top formed well on the 1 hour timeframe
SELL
1.) USD/CHF reaching common resistance point.
2.) Double top forming on Daily chart.
3.) Inside bar on Daily chart
4.) Head and shoulder pattern on hourly chart
We can see a falling wedge pattern on this pair. If not, an inverse head and shoulder will be present because of the first shoulder and head that has developed. At no stage is it going below the support line.
![USDCHF: [b] USD/CHF REVERSAL! [/b]](https://s3.tradingview.com/n/nXaZjJfd_mid.png "[b] USD/CHF REVERSAL! [/b]")
