GBPNZD- Head And Shoulder Pattern
Head and Shoulders Pattern:
Left Shoulder: The first peak, followed by a dip.
Head: A higher peak, representing the top of the trend.
Right Shoulder: A lower peak than the head but similar in height to the left shoulder.
This pattern suggests a bearish reversal from an uptrend to a downtrend.
Entry Point:
Price has broken below the neckline (2.12636), indicating the potential start of the bearish move.
Stop Loss and Take Profit:
Stop Loss: Placed above the right shoulder at 2.13040, protecting the trade from potential false breakouts.
Take Profit: Target level is set around 2.11473, based on previous support levels or a measured move projection from the head.
This chart suggests a potential sell opportunity based on the head and shoulders pattern, with risk management implemented via stop loss and take profit levels.
Left Shoulder: The first peak, followed by a dip.
Head: A higher peak, representing the top of the trend.
Right Shoulder: A lower peak than the head but similar in height to the left shoulder.
This pattern suggests a bearish reversal from an uptrend to a downtrend.
Entry Point:
Price has broken below the neckline (2.12636), indicating the potential start of the bearish move.
Stop Loss and Take Profit:
Stop Loss: Placed above the right shoulder at 2.13040, protecting the trade from potential false breakouts.
Take Profit: Target level is set around 2.11473, based on previous support levels or a measured move projection from the head.
This chart suggests a potential sell opportunity based on the head and shoulders pattern, with risk management implemented via stop loss and take profit levels.
Trade active
acativeTrade closed: stop reached
STOP LOSS HIT
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.