Bullish Head & Shoulders on the GBPUSD.
We see the formation of the H&S pattern on the chart.
Both shoulders rest on the same level.
On 15 minute time frame you can see bullish price action at the right shoulder level.
Suggested Trade Parameters
Follow for updates :)
Good luck!
Feel free to comment and ask questions.
We see the formation of the H&S pattern on the chart.
Both shoulders rest on the same level.
On 15 minute time frame you can see bullish price action at the right shoulder level.
Suggested Trade Parameters
- Place a pending Buy Stop order above the neck line.
- Place the stop loss below the Head of the pattern.
- Take Profit 1 is the D point of an ABCD harmonic pattern formed from the head and right shoulder.
- Take Profit 2 is the hight of the pattern (head to neck) - extended upwards.
Follow for updates :)
Good luck!
Feel free to comment and ask questions.
Trade active:
The Buy Stop order has been filled and we are in an open position.
Good luck everyone :)
Good luck everyone :)
Trade closed: target reached:
Take Profit 1 Has been reached.
If you still have an open trade you should move the stop loss to the entry point.
Don't let a winning trade become a loosing trade :)
If you still have an open trade you should move the stop loss to the entry point.
Don't let a winning trade become a loosing trade :)