hey traders,
on pound new zealand we have a very nice head and shoulders formation.
I remember that many years ago, when I just started to learn trading patterns,
I saw such illustrations of head and shoulders pattern in trading books.
Watching this pair on a 4 hour chart we see that the market has recently approached 1.94 level.
Looking left we see that it is a significant level of structure + rsi shows us clear divergence.
Market leaves us clues that with high probability we will see a retracement.
As always with head and shoulders we wait for a bearish violation of a neckline and sell only after the market closes below the line.
The initial target is based on pattern range.
Stop is above head.
Good luck!
Komentar:
the market respects the support
Komentar:
market is going down
Trading ditutup: target tercapai
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