The Aud/Nzd broke the SurpriseBox on the 4h chart down. The latter was out of a 200sma and 50sma area. It made a Head and Shoulders Pattern Formation. Entry at 1.2550 region (rebound to the neck). Logic stop will be the top of the right shoulder at 1.2650 area. Target at the 1.2450 area (recent low). This trade provides a 1:1 risk profit ratio. Posted on twitter @surprisetrade.
Disclaimer: I trade the patterns depicted either at the entry point stated (e.g. trading channel, breakouts) or afterward. Although my trades are based on technical analysis, trading forex is a risky activity and may produce significant monetary loss. I only post public the trades that I am considering to make, or made and the rational for them. Not intended necessarily as trading recommendations. By SurpriseTrade@gmail.com
Again, my heart and prayers go to the victims of SuperStorm Sandy on the East-Atlantic Coast. Wish for a prompt recovery from this massive natural disaster.
