Euro / British PoundShort
Head and Shoulders unfolding?
The EURGBP has it all with a textbook H&S formation - the right shoulder even acted as a retest of the 20 SMA.
The Head was a classic squeeze-spike.
The downside potential is limited and price will run into the first support quickly at 1.9R. If price can pick up more momentum, we could see a larger correction.
Europe is opening soon, which will give more clues about the direction for this trade.
The Head was a classic squeeze-spike.
The downside potential is limited and price will run into the first support quickly at 1.9R. If price can pick up more momentum, we could see a larger correction.
Europe is opening soon, which will give more clues about the direction for this trade.
I have been trading for 15 years!
> Trend Rider indicator: tradeciety.com/trend-rider-indicator/
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> Trend Rider indicator: tradeciety.com/trend-rider-indicator/
> Free weekly trading webinar: tradeciety.com/webinar/
> Free blog: tradeciety.com/blog
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
I have been trading for 15 years!
> Trend Rider indicator: tradeciety.com/trend-rider-indicator/
> Free weekly trading webinar: tradeciety.com/webinar/
> Free blog: tradeciety.com/blog
> Trend Rider indicator: tradeciety.com/trend-rider-indicator/
> Free weekly trading webinar: tradeciety.com/webinar/
> Free blog: tradeciety.com/blog
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.