Invictavis
Short

Head and Shoulders Formation on EURGBP (Potential 1100+ gain)

FX:EURGBP   Euro / British Pound
Hey all! Everyone of us is aware that sometimes there are cold days without any apparent trends and sometimes there are trends and formations all over the place. Thankfully these past few days are of the latter category and I'm trying to share most of them with you all.

Here, we can see the formation of a Head and Shoulders pattern on the daily EURGBP chart. As is customary with these patterns, you can expect that the drop from the neckline to the target will be equal to the distance from the Head to the neckline. This fits in well here as the equal distance from the neckline syncs up almost perfectly with a strong S&R level that extends back more than a year. Target 1 is a little more conservative if you're skeptical about this massive drop as it is also a relatively strong S&R level.

If you liked the idea, be sure to leave a like as it motivates me to post more of these gems.

Aggressive Setup
Entry: 0.86445
TP:0.80740 or 0.75027
SL: 0.86949

Conservative Setup
Entry: 0.83448
TP: 0.80740 or 0.75027
SL: 30 pips or so
Trade active: Excellent movements so far; 0.84202 is a level to watch now.
EN English
EN English (UK)
EN English (IN)
DE Deutsch
FR Français
ES Español
IT Italiano
PL Polski
SV Svenska
TR Türkçe
RU Русский
PT Português
ID Bahasa Indonesia
MS Bahasa Melayu
TH ภาษาไทย
VI Tiếng Việt
JA 日本語
KO 한국어
ZH 简体中文
ZH 繁體中文
AR العربية
HE עברית
Home Stock Screener Forex Screener Crypto Screener 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 Send feedback Ideas Published Followers Following Private Messages Chat Sign Out