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WaqasWasi

NZDUSD - Double Top - 26/04/2024

Short
New Zealand Dollar / U.S. Dollar (EIGHTCAP:NZDUSD)  
WaqasWasi  
EIGHTCAP:NZDUSD   New Zealand Dollar / U.S. Dollar
Trend Analysis Harmonic Patterns Chart Patterns
2
1
trendanalysis harmonicpatterns chartpattern
The NZDUSD has demonstrated a robust uptrend, with recent observations of divergence on the 1-hour timeframe. Subsequently, a discernible double top pattern has emerged, signaling a potential conclusion to the bullish phase and a prospective transition to a bearish trajectory. In the event of a neckline breach, the recommended trade stance is to initiate a short position.

Trade Call: Short
Entry: 0.59171
SL: 0.59705
TP1: 0.58640
TP2: 0.58100
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