Abdul_B
Long

GBPCHF - Beginners Technical Chart

FOREXCOM:GBPCHF   British Pound / Swiss Franc
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2
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1DAY. Inverse Head and Shoulders . I think its long because the head is the second peak and is the highest point in the pattern. The two shoulders also form peaks but should not exceed the height of the head.With this formation, we would place a long entry order above the neckline. Measure the distance between the head and the neckline, and that is approximately the distance that the price will move after it breaks the neckline.
Sep 14
Comment: would place a long entry order above the neckline
Stop loss @ 1.257
Sep 21
Trade closed: stop reached
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