Fxprotrader
Short

GBPCAD Pending Head & Shoulders Pattern

FX:GBPCAD   British Pound / Canadian Dollar
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Price is about to complete a head & shoulders pattern which if completed may end a big up move. We should wait for price to reach to the left shoulder level and watch for a sell setup. If we miss, we should then wait for a neckline breakout before going short
Comment: Price broke below the neckline of the pattern
Comment: Wave patterns at their best..! Easy, simple trading with great results..!
Love it
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That was agreat setup..
+1 Reply
Hiisham Fxprotrader
what about GBPNZD
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Good analysis....well done
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Thank you..!
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Hi Fxpro, are we selling now, or are we waiting for a retracement back to neckline?
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I'll put a sell order at the shoulders , Green line
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That's the aggressive way to go short but with great risk/reward ratio.. Good luck..!
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Hiisham Fxprotrader
the green line present a 0.618% fibo that's good place to sell & finish he's correction
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