potential head and shoulders pattern on nzdusd

hey traders,

on new zealand dollar / us dollar pair from the 8th of October the market is in a clear up move.
Though my bias is still bullish, I am always looking for trend violation patterns.
on a 4h chart we have a nice head and shoulders pattern.
The violation of neckline will trigger a selling reaction and will drive the market at least to 0.676 level
(based on structure and the pattern range).

Also, at the same time we have a decent rising channel

the violation of neckline will match with the violation of a mentioned channel.

good luck and be patient

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Kommentera:

market is going down