rejection last week, lets see what we can get IN MY LEVELS I TRUST
price currently on neckline, breaking out of this area i doubt will be straight forward , 1 of two things , price will retrace back to resistance showed on chart and break downwards (where the first sell might take place) , if price breaks neckline immediately, initiate sell , smart stops should be placed , a bit above neckline so you don't get stopped out...
Breakout achieved , higher lows and higher set in the process , retest on res to make support
what really makes a head and shoulders to someone ? does it have to look like the ones you see in the example, (subjective still right ?), go to daily chart for better perspective , when things look muddy always go higher. SET P.As at reasonable places consider price retests before breakout )as it does , if breakout achieved (anticipate retest of broken line)
one of two things might happen , immediate breakout of res line and neckline and retracement to make res support and continuation , or price to drop to find support @ 0.89665 and rally up P.A/P.O- just above that for buy.
NZD is performing quite well rn , obviously that is a not a good enough rationale on its own for entering this on a sell sweet price resistance , price has already broken out of support and is retesting making for resistance , (SELLS DROP LIKE A MF ALWAYS, absolutely love it) just looking at the chart , no news so i couldn't tell you whats what there , but i just...
another case of an inverse head and shoulders price continuation, price to push back to 0.63493 to find support (AS PRICE DOES ALWAYS AND SHOULD) this is the anticipation. if reversal to happen at that point. T.P.1- 0.64399 safe place or set .P.A to watch if the Case is that price will continue upwards (and you have the patience to wait for T.P.2@- 0.65381 sweet...