Hi! Thanks for posting here! How was your trade? Looks like the pair broke above the channel and is using the previous resistance as support right now.
After bouncing from the .8100 handle last week, NZD/USD looks like it’s forming a bullish pennant on the 4-hour chart. According to the School of Pipsology, pennants are usually continuation signals. Will it hold true for Kiwi this time around?
After several unsuccessful attempts at breaking beyond the .8350 minor psychological level, the pair seems ready to test the resistance once more. It still has a long way to go though, so you might have to wait until the middle of the week if you’re planning to short around .8350. Be sure to wait for stochastic to reach the overbought mark and turn downwards before jumping in.
Since I started babypips, I am always looking forward to reading your setups. I really appreciate your input. Im long in this NZD USD trade for 3 week now. 3/4 of my TP is at 83. Hope it hits it tonight. This is the first time I stayed with a pair this long. I am not so sure if I just got lucky. I hope to duplicate it though. Thanks a lot.
Aww, how sweet of you! I’ll try to keep it up.
Looks like you’ve hit your PT just a few minutes ago. Congratulations!
If you think that the comdolls are headed south, then this setup is for you! Not only is NZD/USD sporting a bearish divergence on the 4-hour chart, but it also looks like it’s having trouble breaking above the mid-channel resistance! I might place a stop loss above .8200 if I get more signals for a short trade.
Hmmmmmmmm…
I too…
Expecting a downside breakout …
Here’s an update on NZD/USD’s 4-hour falling channel. It’s still holding like a boss! Well, at least for now. The pair is moving in the middle of the channel and appears ready to test the resistance once more. However, stochastic is already in the overbought region, suggesting that Kiwi bears are itching to push this pair down and close that weekend gap.
Seems Better to short now on Double top @ 0.8165.
This time I am placing a pending order (Buy Limit) to go long on NZDUSD at the neckline of inverse head and shoulder.
Waiting for a pull back of price to broken neckline of Inverse head and shoulder @ 0.8200 to trigger the pending order.
Here’s another comdoll bullish trade! NZD/USD encountered resistance just below the .8250 handle, and is now forming what looks like a bullish pennant. Will it break to the upside, or will the .8250 level be too much for the Kiwi bulls?
Happypip,
In the short term, the setup looks to be more like a bullish flag to me but I think the downward trend will ultimately hold. This pair has been making lower highs and lower lows for a while now, keeping to a slightly downward trend line. Thus I’ll be shorting this pair at the top of that trend at around 0.8250. 
Good catch! Was a buyer @ .82 too! Taking profits @ .8275 though!
Had I a bigger position I would take 1st half @ .8275, 2nd half @ .8350 also!
Pretty textbook play btw… Hope it gets @ my 1st TP this week cause next one
has RBNZ & would like to be out of it before that… Just my thoughts…
Closed position at BE
NZD/USD just broke above the neckline of the inverse head and shoulders on the 4-hour chart, hinting that it could be ready to trade much higher later on. However, the pair just pulled back to the broken resistance level as bulls try to gather more steam. The .8200 major psychological handle seems to be holding at the moment while stochastic is pointing upwards.
There is bearish harmonic pattern and strong divergence on this chart. I think that this can be a good place for short sell. Stop loss level is near opening price.
Have a good trade!
Nikola Broceta
I agree with you. We have a strong resistance here, but my first stop loss will be about 0.8220. As you can see we had inverse head and shoulders pattern and it was a good prediction in a pip. After that this is only a correction (this is uptrend) on a bigger time frame and I expect that the price will bounce from neckline. Because of that I will close my short sell, but if price close below neckline I will be in short sell again.
Have a good trade!