NZDCAD Head And Shoulders Pattern Provides Sell Opportunity

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NZDCAD Bearish Channel Provides Sell Opportunity

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Hi Traders! NZDCAD head and shoulders pattern provides sell opportunity for us. A detailed analysis of this bearish setup is as follows:

NZDCAD H1 Chart:

On the H1 chart the price has created a head and shoulders pattern. Currently the price moved lower and it did break and close below the neck line, thus validating this head and shoulders pattern, we may consider this as an evidence of bearish pressure. Hence everything looks good here for the bears and we may now look for more evidences of bearish pressure in order to start looking for sells.

NZDCAD Head And Shoulders Pattern Provides Sell OpportunityThe target for this sell setup would be the duplication from the head towards the neckline of the head and shoulders pattern.

Note: It is always recommended to look for confirmations before you jump into any trade. If you are not sure about how to trade this sell setup then you can use any setup and strategy that you have in your arsenal to look for bearish moves and join this sell trade.

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Regards,

Yordan Kuzmanov
Chief Trader at Traders Academy Club

 

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Larry
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Larry

Thank you Yordan

James
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James

Thank you so much!!