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NZDUSD TRADE ANALYSIS 4H

Short
New Zealand Dollar / U.S. Dollar (FX:NZDUSD)  
djzeez10  
FX:NZDUSD   New Zealand Dollar / U.S. Dollar
Chart Patterns Support and Resistance Parallel Channel
2
0
chartpattern supportandresistance parallelchannel
Analysis Shows that:
  • Price has created a head and shoulders pattern which means reversal is in progress.
  • Price has successfully broken support and is testing the new resistance zone
  • Price also created lower highs and lower lows thus a downtrend

[WHEN TO TRADE:
When price forms a reversal candlestick close to the vertical or horizontal resistance zone
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