NZDUSD TRADE ANALYSIS 4H

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
Chart PatternsParallel ChannelSupport and Resistance

Penafian