stockmarketdaytrader
Short

Another Trade Opportunity

FX:EURGBP   Euro / British Pound
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I see huge head and shoulders pattern, and price action has started breaching the neckline. The lower time frame charts are showing another head and shoulders pattern which again has been breached. On the 4 hour chart, price has found resistance at a pivot point level, and started to come down! We have a 123 formation which price action has already confirmed! on the 30 minute chart we have a significant candlestick , price action formed that candlestick and started to drop . We do have a huge head and shoulders on the daily chart , this tells me that price action will look to head down! This looks like a continuation pattern, the first leg has dropped, now we waiting for the second leg to occur! second trade today, keep em coming!
Comment: stop loss order is at the high of the peek, around 0.8562
Comment: Hang in there folk's, its just a retracement, it will continue down, i see no indication of a turn around situation!
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