MelvinMack

MelvinMack

Noticeable chart set-up placed with falling channel resistance Awaiting further market movement for potential short execution (112.330)

MelvinMack

Price rejection three times at the same point, broken resistance line (first yellow)

MelvinMack

In analysing this pair, it shows that it is in a decent bullish trend, price has changed movement a few times and also attempted to break support lines twice, before consolidating then eventually causing a breakout at third attempt. Breakout didn't last long as price continuously went long breaking resistance which is now a support. Fundamentals this week are, NZD...

MelvinMack Updated 

I have been in this trade since the 16th of this month and closely analysing the 1D/1W/1M time frames and from what I have looked at I spotted a potential retracement occurring. I then spotted a reversed head & shoulders pattern where the first shoulder was formed by sellers where they took control within the market, then buyers took back control but sellers...