EURGBP. Trade what you see, not what you think.
A clear ascending channel that has been broken and has been retested on the 1hr time frame with a bearish pin bar.
Market structure has changed and now potentially created a lower high. This change in market structure has now potentially created a price reversal pattern, a head and shoulders.
I will be waiting for price to break the 0.8877 level ( kneckline), make a pullback and valid retest and take short position.
The red zone shows an area of price sensitivity.
Let me know your thoughts,
Thanks
Nath
Market structure has changed and now potentially created a lower high. This change in market structure has now potentially created a price reversal pattern, a head and shoulders.
I will be waiting for price to break the 0.8877 level ( kneckline), make a pullback and valid retest and take short position.
The red zone shows an area of price sensitivity.
Let me know your thoughts,
Thanks
Nath
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