NZDUSD: Trend Reversal Pattern and When to Sell

The daily timeframe gives us bearish signals. You can read more about it in the post from the related ideas.

The 1H chart gives us a sell opportunity based on the "Head and Shoulders" chart pattern. It is a trend reversal pattern, and we should expect a downward movement.

If the price breaks the neckline of the pattern and drops below the local swing low, it will be the right time to open sell trades.

Entry Price: below 0.65850
Stop Level: above 0.66170
Profit Target: at 0.65250

Risk per trade must be no more than 1% of the capital. As there will be strong news within several days, the market can move upward in spite of strong bearish signals. We must use stop orders!