Tradeciety
Short

Head and Shoulders unfolding?

FX:EURGBP   Euro Fx/British Pound
902 3 28
The EURGBP             has it all with a textbook H&S formation - the right shoulder even acted as a retest of the 20 SMA .
The Head was a classic squeeze-spike.

The downside potential is limited and price will run into the first support quickly at 1.9R. If price can pick up more momentum, we could see a larger correction.

Europe is opening soon, which will give more clues about the direction for this trade.
Being new to trading, when trading a H&S pattern what should you look for to identify an exit from your short position?
Reply
direction is correct , just market hit SL before went down
+1 Reply
looks great , are you already in the trade?
Reply
United States
United Kingdom
India
Deutschland
España
France
Việt Nam
Italia
Polska
Brasil
Россия
Türkiye
Indonesia
Malaysia
日本
한국
简体
繁體
Home Stock Screener Forex Signal Finder Cryptocurrency Signal Finder Economic Calendar How It Works Chart Features House Rules Moderators Website & Broker Solutions Widgets Stock Charting Library Feature Request Blog & News FAQ Help & Wiki Twitter
Profile Profile Settings Account and Billing Support Priority Support Report Issue Ideas Published Followers Following Private Messages Chat Sign Out