GBPCHF - Beginners Technical Chart
Updated
1DAY. Inverse Head and Shoulders. I think its long because the head is the second peak and is the highest point in the pattern. The two shoulders also form peaks but should not exceed the height of the head.With this formation, we would place a long entry order above the neckline. Measure the distance between the head and the neckline, and that is approximately the distance that the price will move after it breaks the neckline.
Note
would place a long entry order above the necklineStop loss @ 1.257
Trade closed: stop reached
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