GBPUSD [SHORT] H&S Forming
Updated
Looks like a head and shoulders could form here. My entry zone is between the aqua and orange baseline. Should look to see a 400pip drop if it plays out.
Trade will not be active unless the prices closes in the entry zone.
The fib level further reinforces a resistance for the second shoulder to form.
Trade will not be active unless the prices closes in the entry zone.
The fib level further reinforces a resistance for the second shoulder to form.
Comment
remember this isn't a head and shoulders until it breaks the neckline. We are looking for a clear candle closure on the 4hr chart in the pink box before I would consider this an active trade.
Order cancelled
Didn't come to anything after some interesting movement from GBP earlier todayDisclaimer
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