Hanging Man

Morning traders, After a positive surprise for the market on Australian elections as Conservatives keep power via coalition and the polling companies have yet another shocker after predicting in the last 50 polls that Labour would come to power. This mild positive and the oversold nature of AUD led to a large short squeeze with AUD trading up 70 pips from...

First published idea from an inexperienced trader. as the NZD/USD weekly approaches a close, a hanging man appears to be forming on top of a strong support line, NZD/USD is at it's lowest point for over 12 months. bearing in mind we have the NPF tomorrow so this can go either way and break the support. I am bullish on this pair, I suspect the bullish reversal...

Hanging man at 61% fib retracement. Price is also in line with a strong line of resistance.

Looking at the NZDUSD its been bullish for a over a year but I think the bulls are loosing power and the bears are starting to take over. From a MONTHLY perspective... The most recent candlestick has a SHOOTING STAR characteristic. Price attempted to break the weekly resistance at 0.7450 but failed and price came back down. Price is below the monthly resistance...