Hi guys sorry I’m not very good at posting pictures yet but could some of the advanced traders tell me if i am looking at a possible inverted head and shoulders set up on NZD/USD Daily Thanks Dave

If the pair have a pause and continue its upward run, then a right shoulder will be created. However, if the the price slips below the 0.6950 support level it would open the way for the 0.6885 price level.

Thanks GerhardtW I agree and will be keeping an eye on it as it has not reversed yet

Hello again Dknave,
As you can see in NZD/USD pair, the price slipped below the 0.6950 price level and almost hit the 0.6985 support level. Now, it started a retracement to the upside and hit again the 0.6950 barrier.

Last night, I have opened a sell trade here at 0.70314 level and now I am with 73 pips profit but till now I am waiting for my TP (0.69158 level)! I basically set this TP level according to the daily support level! In addition, if market breaks this support level so strongly then I’ll go for sell again by reversal pattern.

This is my first post about an instrument, i hope you understand. my english isn´t so good. i trade the price action from H1, H4 and D TF. my trading plan says that from H1 since begining of 05/16 the nzdusd is bullish. i consider that this will be just a correction and we´ll see a new botton sooner or later. I find a support area in 0.68000.

Now from H4 i do have uptrend signal, too. I take three resistance areas that the bullish trend will try to cross: 0.6980 - 0.7045 - 0.7090. Last post i talk about support area but now with H4 signal i begin to talk about resistance. The bullish trend could be a bigger uptrend move.

Pullback at beginning of the week with Retail Sales New, but i don´t worry. Fake downtrend signal from H1, waiting for fresh highs. My TP at 0.6980.

hello, everyone. From my trading plan bearish signal at H1 chart. My TP didn´t close the position i did it manually but at least good profit. Two possibilities now while the Kiwi waits for the FOMC: 1 - a retracement (bullish move) to begin the downtrend with the new or 2 - a small bearish trend (few pips) and new uptrend signal to star over the uptrend with the FOMC new. Difficult to predict. S1 area 0.6930, S2 area 0.6885, S3 area 0.6865.
I´m short with the usdjpy. Could nzdusd and usdjpy be bearish both at same time? Yes, they could if Stock Indexes begin a bearish trend, too. Be careful. From now, it´s convenient to study at least the S&P500. If you watch the Nikkei 225 it seems that a wave C of a correction is ending.
I´m beginning to love the Kiwi, almost 9 of 10 positions that i open i do it with usdjpy but i´m considering to be unfaithful to the yen. The Kiwi is a tidy pair, too.

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I´ve prefered to close my short position. Around 10 pips of profit. I did it because i suspect this pair´ll start over it bullish trend with the FOMC. Slow downtrend. I´ve choosen my second possibility written at my previous post. I´ve applied my logic, if the Kiwi and yen are going to run in same direction it´ll be a downtrend, this´ll happen just if Stock Markets are bearish, too. But studying the Nikkei225 from daily chart there isn´t a bearish signal according to my trading plan. I hope a bearish trend at usdjpy, i´m short. So, if usdjpy is bearish, nzdusd´ll be bullish. I´ll rest a day. I don´t take risk, I choose to protect my account balance even if new lows appear.

This could be one of those days. I did two things right and two things wrong.
Right: first, i was short with the usdjpy (some profit there) and second, at the beginning of the Asian session the nzdusd at H1 from my trading plan a bullish signal appeared but i didn´t open a long position, i prefered to do it close to the Fomc (so i avoided the retracement).
Wrong: first, i couldn´t anticipate the usd and yen revaluation at the same time, i was waiting for bearish signal at Nikkei225 from it daily chart, i didn´t lost any pip, but next time…( the market has shown its claws). Second, so focused at this revaluation that i lost my compass, i´m sorry my GPS so i didn´t open a long position with the usdnok.
But i believe that the Nikkei225 will rebound and perhaps a new high will appear and after that a strong downtrend will begin. Target at 18709. At north hemisphere´s summer season, at south hemisphere´s winter season like Stock Markets. Pay attention.
I need more backtesting for stressing conditions at financial markets. Trading the usdjpy i´m constantly checking if the eurusd moves in opposite direction but when both move in same direction for me it´s confuse and according to my present i´m not able to anticipate it.
Now, i´ll wait the Fomc trying to open long position with the Kiwi.
Greetings, and many pips for everyone.

I´ve opened long position at the Kiwi waiting for FOMC. Another bullish signal to start over the uptrend appeared at H1 from my trading plan. TP at 0.6990 above my R1.

Hello. Yesterday i´ve decided to close my long position. Slooooow uptrend. I´ve prefered to open a long position with the usdjpy. I´ve considered the yen will rebound with strength at least until the resistance area at 110.27. It downtrend was really strong, during wednesday and thrusday the Nikkei225 was intractable. Now, usd and yen possible devaluate at the same time, The Nikkei225 is giving them a breath. That´s the reason why i think the Kiwi is bullish, too. My TP was placed at 0.6990 and i believe the price´ll be there sooner or later.
Next week i´ll test my trading plan with the S&P500 so i´ll not trade currencies. But i´m going to follow posting about Kiwi and Yuan. I hope i don´t bore you. Greetings.

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I would like to say that it is not going to be inverted head and shoulder conditiom in this chart as the price will rise as far as my analysis says. I am a NZD/USD pair trader with good experience as well. You can ask me for more details! Thanks!


The price´s touched 0.6990. Now, i think a rebound will appear and after that a new uptrend with new highs or a beginning of a bearish trend. I believe my first option possible.

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Hi, everyone. I believe a new uptrend will begin but at beginning of Monday, the uptrend is just a wave B of a correction. At my trading plan there was a fake uptrend signal from H1. I´m waiting for new bottom, the wave C of the correction and after that i think the Kiwi will star over the uptrend. My S1: 0.6936 (61.8 fibo) and S2: 0.6916 (76.4 fibo).

Hello, i was waiting a wave B of a correction but it was a bullish impulse. This is an ending pattern because there´s downtrend signal from H1 at my trading plan during 05/31. So this bullish trend is a retracement of my signal. Maybe the target´ll be 0.7055/62 area. After that, a bearish trend will appear. In my opinion 0.6800 will be an important support. I´ve opened a short position at 0.7020 i´ll keep it, my SL 0.7120. Nikkei225 is ending your correction too. I believe that during next days markets will be turbulents.