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!
I hope you went long NZD/USD a couple of days ago! Many comdoll traders can just stand by and watch as NZD/USD breaks above its former highs on the daily chart. But for those who are absolutely bearish on the Kiwi or if you’re looking for a target for your longs, then you should take a look at the .8400 major psychological handle, which has served as a strong resistance level early in the year
Ooooops… Stopped out
The Kiwi has been rallying for days on end but I have a good feeling that it might retreat this week. Probably it’s because I’m spotting a bearish divergence on the 4-hour time frame of NZD/USD. I’m not sure though if the pair is also making a bullish pennant, which could mean that the rally would resume pretty soon. What do you think?
