Just broke daily trendline and retested it on the spike, now retesting it again. Also weekly tf shows a nice doji, could lead into a double top on weekly.
I will short it every time it checks the trendline as long as the .763 isnt touch.
Long term tp and sl are shown in this chart, for more specific entries and exits PM me or go to the trading chat on my website.
This is a nice RR and it is a possible monthly/yearly play where if it breaks bottom of the H&S it could dive down to before Brexit levels...again that will take hella time (literally years) and swaps on this pair are not exactly extraordinary so I will keep everyone updated.
Anyway I hope this works out becuz it is a deadly nice setup.
Trade active
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Ouch that was a nasty gap up here but hard stops are now being placed above weekly highs. No more positions are to be added at this level.
I am watching for rejection which is shown on 4h as of now but since it made a new high on 1hour it is risky adding right now.
I will feel more comfortable adding if a lower low is made, then I shall add on any and all green 4h candles.
Trade closed: stop reached
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It was a good attempt with a good RR. Unfortunately it did not work out even though positive numbers for GBP. Anyway we will make it up next time.
Remember we only need to hit 1 godly setup in order to be in immense profits.