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Showing results for tags 'head and shoulder'.
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Hi, Seeing the increase in posts on various currency pairs, we have decided to start generic threads, this one being for less traded AUD & NZD pairs. All items related to these pairs should go in here, *unless* there is a specialized topic or question related to them. We will err on the side of caution and assume discussions on the pair should be in this thread. I hope this will keep the forums clean, discussions coherent and synchronized.
The inverse head and shoulders pattern is used to signal the reversal of a current downtrend. It consists of three lows which look like an inverted head and shoulders pattern and the buy signal is when the price breaks above the neckline.The price then moves back up to the same resistance point (or an area close to it), before forming a third valley whose low is at the same level as the first, then moves back up and eventually breaks above the resistance.