THE KIWI IS TAKING THAT FLIGHT!? | NZDUSD

Tendency: Temporary Uptrend ( Bullish )
Structure: Inverse Head & Shoulder
Observation: i. After a long bearish trend , Price falls to a low (Shoulder) and subsequently rises back to what is called the neckline.
ii. The price falls below the former low to form a Lower Low (Head) and then again rises back to the original base (neckline).
iii. Price drops a third time, but to a level approximate to the first (Shoulder), initial low of the formation before rising back up to the base or neckline of the pattern again.
iv. Price gaining momentum upwards from Moving Averages.

Trading plan I: SELL with a potential 125pips profit.
Risk/Reward: 1/2
Potential Duration: 1 to 2 days

Trading plan II: BUY now or at DEMAND zone with a potential 250pip.
Risk/Reward: 1/2
Potential Duration: 5 to 10 days

** Please note that Stop Loss is subject to individual risk appetite per trade and account size.

Watch this space for updates on lower time frames as price action is been monitored.


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