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November 21, 2016 | NZD/USD Head & Shoulders + Symmetry

Jack has over 20 years experience in the currency, equity, and futures arena. He is an investment advisor who has held key positions in brokerage, money management, trading, and research. Jack is founder and president of Black Swan Capital LLC. He was also founder of Ross International Asset Management (specializing in global stock, bond, and currency asset management for retail clients) and General Manager of Plexus Trading (specializing in currency futures and commodities trading).

Below is a daily chart of NZD/USD.  Three key points:

  1. Today was a key-day reversal bar suggesting a correction higher from oversold may about to get underway…
  2. There is a head and shoulder pattern setup as labeled; suggesting the next move after any correction higher will be a very deep trend move lower…down into the low 60 cent level…
  3. Perfect symmetry in number of days from the pattern swing-low-high and high-low setup; i.e. 53 days.

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www.blackswantrading.com

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November 21st, 2016

Posted In: Black Swan Currency Currents

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