After a through analysis, I have found out a potential shorting opportunity for EUR/NZD. We should wait for a pullback before we sell. The pattern which is actually looking like a Head & Shoulders (SHS) is actually called a "King's Crown". A SHS is called a "King's Crown" when the left bottom is taken out by the right bottom. You can start selling @ right shoulder of this pattern while you had to wait for breaking the neckline of the SHS. In this setup, our right shoulder is @ 61.8% Fibonacci Retracement level and I hope the Stoch RSI will also turn "Over Bought" when we'll reach our selling zone.
Trade Safe :)
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Trade Safe :)
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Comment:
Less retraced, but target hit
Trade closed: target reached
Trade closed: target reached:
+360 Pips