GBPNZD bounced on Weekly trendline (red area) while Weekly Stochastic went well below 30 level
It printed 2 clear Head&Shoulders pattern in this area
First one (blue rectangles) broke the neckline (1.8625) and came back for a retest this week and completed the second and bigger H&S (yellow rectangles) with 2 nice pin bars
I entered this trade today on breakout of this Week high (1.8940)
You can also wait for breakout of neckline(1.9120) and enter on breakout or retest
Stop loss is 1.8600
Targets are 1.9650 (1:2) and 2.0450 (1:4.5)
Please Follow me if you like this! :)
It printed 2 clear Head&Shoulders pattern in this area
First one (blue rectangles) broke the neckline (1.8625) and came back for a retest this week and completed the second and bigger H&S (yellow rectangles) with 2 nice pin bars
I entered this trade today on breakout of this Week high (1.8940)
You can also wait for breakout of neckline(1.9120) and enter on breakout or retest
Stop loss is 1.8600
Targets are 1.9650 (1:2) and 2.0450 (1:4.5)
Please Follow me if you like this! :)