Nzd/Usd Head and Shoulders

Has anyone noticed this pattern which is showing on all time lines. It also shows on some Aud currencies.

As a newby please could someone give me their opinion on this? I’m assuming it may well drop below the neckline and if so then I will short it.

Any comments will be gratefully received. Cheers :slight_smile:

I see the head and shoulders too. Last economic data and upcoming on wednesday let the setup look well. also a doji in the weekly frame. I will have a look at it. But I dont trade only because of the pattern because too often it doesnt work. Definitely to combine with fundamental analysis.

Thanks :slight_smile:

What are you using to analyse. I’m more of a reversals trader.

very clear HS pattern on the daily but we need to clear a few elvels in roder for this pattern to be valid. We also have a great bearish harmonic cycle there that is under presure due to the non completition / BO of the HS.

Here is what I´m talking about:

Awesome stuff. Thanks.

It doesn’t seem to be moving but drifting sideways now.

Keeping an eye out still.

NPBM, remember that today was veteran´s day on the US so low volatility was expected. We might get something moving during Asia or London tomorrow for sure

Why was Euro so hot today ?

Thanks for pointing this head and shoulders pattern out. Definitely gonna keep a close watch on this one, especially since the US dollar has been drawing support from taper talks once again.

That’s my pleasure. It’s making its way there and my order is in :slight_smile:

So my order was activated at .8180 and now the trend down seems to almost reverse lol

It better not. My stops cannee take it captain.

Good luck if your in everyone.

I’m watching this pattern on NZDUSD too. Might jump in on a pullback to that neckline since I missed the actual breakdown. Good luck to us!

Do you have any chart to show on this trade ??

Forget the chart. Forget the trade. My order kicked in at .8180 after a sharp drop for a few pips it went to a reversal and just kept climbing until I got stop losses for my analysis.

Shame because I enjoy the technical but it just shows trend riding is much more effective.

Here’s to looking for more trades … You can not win them all :slight_smile: Cheers.