Head and Shoulders - NZDCAD
On the hourly chart we have one of the most popular pattern formations.
This is a reversal pattern where if we see a breakout,
we expect the same amount of move in the opposite direction as the move in between the neck line and the head.
In this case we should see price down at 0,8821.
SL above the right shoulder!
A good entry will be on the re-test of the neck line.
This would give us the best risk to reward ratio and it would also confirm the H&S pattern.
This is a reversal pattern where if we see a breakout,
we expect the same amount of move in the opposite direction as the move in between the neck line and the head.
In this case we should see price down at 0,8821.
SL above the right shoulder!
A good entry will be on the re-test of the neck line.
This would give us the best risk to reward ratio and it would also confirm the H&S pattern.
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💰 PAID SIGNALS AND ANALYSIS: t.me/Semkov
💡 If you want to know on what basis we make our entries, get in here: t.me/trendlinefreetrade
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