The Nzd/Chf pair had been in a Ascending Right-Angle Broadening Formation (ARABF) since August 2012, around the 200sma. Last Week it reached the top of the range and made a bearish engulfing pattern. Expect to reach the bottom of the range. Stop will be at the top of the engulfing pattern.
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
