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.
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.
If you want to learn how to do such analysis yourself, if you are looking for a professional team of traders and one of the best online trading communities, If you are looking for enormous archive of Webinars, Trading Tools, Trading Strategies, Books, Indicators, Expert Advisors and much much more, join my traders academy club for only $197 PER YEAR.
Also you can get one of my strategies free of charge. You will find all the details here
Chief Trader at Traders Academy Club