TradingView
UnknownUnicorn772665
Sep 25, 2019 12:33 PM

GBPUSD Short Trade - MULTIPLE CONFLUENCES Short

British Pound/U.S. DollarFXCM

Description

Lots of confluences for a short trade on GBPUSD.

Pattern Trading - Head & shoulders pattern confirmed on the 4hr timeframe (yellow circles)
Bullish Trendline Broken
4hr 50ema broken to downside
Lower low and lower highs now made.

Looking for a pullback in to the bearish TL and a retest of the broken bullish TL.

Price might keep dropping from here so the fib levels could move and I will adjust accordingly.

TP1 would be 1.23
TP2 would be a lot lower if price keeps making lower highs on this timeframe.
Comments
UnknownUnicorn772665
Check out my blog for more technical analysis and FREE trading education diaryofafinancekid.com/blog/
More