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fayezhazzem

Sell GBPCHF Head and Shoulders Pattern

Short
British Pound / Swiss Franc (OANDA:GBPCHF)  
fayezhazzem Updated   
OANDA:GBPCHF   British Pound / Swiss Franc
Trend Analysis Chart Patterns Technical Indicators headandshouldersformation headandshoulderscomplete chartanalysis chartpatterntrading chartpattren breakouttrading breakout rsi_divergence trendreversal
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trendanalysis chartpattern indicator headandshouldersformation headandshoulderscomplete chartanalysis chartpatterntrading chartpattren breakouttrading breakout rsi_divergence trendreversal
I have posted about this in my previous idea on 22nd of June saying there is a Head and Shoulders pattern on the 4H timeframe. Now price is breaking the neckline to complete the head and shoulders formation. Now is the time to sell at the close of the current candle.We also have RSI divergence giving extra confluence. I believe we don't need this large stop loss that I have said in my previous idea (which was 1.14444) but instead a tighter stop might be better and make more sense of the current long bearish candle.

Trade Setup:
Entry - At the close of the current candle
Stop Loss - 1.14124
Take Profit - 1.11679

Good Luck and happy trading.
Comment:
Sell Now
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