NZDCAD inverse H&S play

31 oct 2018

Looks like a inverse H&S in the making here. I would not get in before this channel breaks or before that red resistance zone breaks. Price should not drop below that green support zone anymore, so that would be a good stop loss level when entering this trade.

31 oct 2018

Nota

Looks like a lower high is set, so looking good now. Probably make a move up soon.

1 nov 2018

Nota

So already made a solid move up, things look very good now. Should see a straight move up, if that happens we can start to increase the size if that next resistance zone breaks. When increasing, i would move stops to average entry level to reduce the risk.
Move stops to entry now as well for a free ride :)

1 nov 2018

Nota

Looking even better, strong upwards move as i asked for, to give strength to this inverse H&S. Moving stops to average entry now.

2 nov 2018

Nota

The bull move is slowing down, could mean it will drop towards the neckline again and make a standard pullback. What i usually do here, is take partial profit if that small trend line breaks and buy it back again around the support line of the inverse H&S

5 nov 2018

Nota

it formed a bull flag and broke upwards, but so far no real follow through so it could drop again. I am still waiting to get with the half i closed earlier, patience :)

6 nov 2018

Nota

Wow, i clearly underestimated this one. But still in with half so it's still an amazing trade. Moving stops higher as well.

This will probably reach the target very quickly, because the these bulls have no patience it seems :)

7 nov 2018

Nota

Another bulls eye :), target reached. I am closing half of my remaining 50% and trail the other half with a very tight stop.
No more updates after this here on TV

tradingview.com/chart/NGMhwjtj/

7 nov 2018

Nota