NU short on H&S and overbought RSI

20 Eyl 2016

there appears to forming a head and shoulders pattern on NU. Also RSI and Stoch seem overbought.
Weekly chart showed a bearish pin two weeks ago, and price is now at 50% retracement of last major swing down.
All in all, this seems a nice opportunity to short NU. although there is the obvious risk of FOMC ahead, so small trade size...
TP1 a the neckline, TP2 at 1.618 extension

just my idea, appreciate feedback and or constructive criticism
good luck

23 Eyl 2016

İşlem aktif

TP1 hit
120 pips in the pocket. Stops to BE

5 Eki 2016

İşlem aktif

neckline finally broken. pulled stops to just above 0.72 and letting this ride

11 Eki 2016

Not

TP2 hit and passed. letting this run at trailing stop