EURGBP Pending Reversed Head & Shoulders At Key Level

FX:EURGBP   Euro Fx/British Pound
8 months ago
Price is about to complete a reversed head and shoulders pattern at a key level. Although the most common way to trade this pattern is after a breakout above the neckline, looking at the chart we may see that the right shoulder will complete at a very strong level offering great support. So when price reached that level we may start watching for a buy setup to form and jump in for a long ride.
8 months ago
Comment: Price has reached the level of the left shoulder comleting the pattern. I have posted a new idea with a bullish cypher pattern. Two different patterns aiming at same direction.

EURGBP Bullish Cypher Completion At Key Level
FREE Forex Live Trading Room: https://medianlinefx.com

FREE Webinar on how to use Andrews pitchfork (Tuesday 28th February): https://medianlinefx.com/how-to-use-andrews-pitchfork-webinar
8 months ago
Agree. The buy zone is also the 0.382 of the primary up trend.
+2 Reply
8 months ago
Where would you consider the violation of this potential set up to be? It appears to want to break through the dealing trend line from 81 and change
DaiJones DaiJones
8 months ago
Fxprotrader PRO DaiJones
8 months ago
Between 0.81130 and the swing point of the "head" the right shoulder may comlete. Above or below these levels this pattern is no more valid
+1 Reply
Ideas Scripts Chart
United States
United Kingdom
Home Stock Screener Economic Calendar How It Works Chart Features House Rules Moderators For the WEB Widgets Stock Charting Library Priority Support Feature Request Blog & News FAQ Help & Wiki Twitter
Private Messages Chat Ideas Published Followers Following Priority Support Public Profile Profile Settings Account and Billing Sign Out