Head & shoulders Patterned Formed On Gbp/Usd
As You Can See We Were In A Bullish Uptrend From Around 13/14th March And Then We Broke The Trendline And Have Been Moving Sideways And Underneath That Trendline For A Couple of Weeks. Last Nights I Noticed A Head & Shoulders Pattern Forming Which Indicates a Bearish Reversal.
Only Problem Is The News Coming Out This Week And Next Monday Which May Send Sterling Higher.
I Am Currently Bearish For Next Week But Will Approach With High Caution.
I Personally Want a Break To The Downside From 1.23480. Then I will Look To Sell.
Happy Trading And Be Safe
Hayden
As You Can See We Were In A Bullish Uptrend From Around 13/14th March And Then We Broke The Trendline And Have Been Moving Sideways And Underneath That Trendline For A Couple of Weeks. Last Nights I Noticed A Head & Shoulders Pattern Forming Which Indicates a Bearish Reversal.
Only Problem Is The News Coming Out This Week And Next Monday Which May Send Sterling Higher.
I Am Currently Bearish For Next Week But Will Approach With High Caution.
I Personally Want a Break To The Downside From 1.23480. Then I will Look To Sell.
Happy Trading And Be Safe
Hayden
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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.