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Filthy_Scholar
Apr 16, 2021 6:19 PM

GBPUSD Head & Shoulders  Short

OANDA:GBPUSD240
GBP/USDOANDA

Description

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H&S Pattern forming on GBPUSD and some other GBPXXX pairs.

GBPJPY at lower end of channel within a channel - pending a break on this channel GBP pairs should be short including GBPUSD.

DXY showing movement towards the 'right' shoulder thus providing extra confirmation of short term bull power on USD.

Aggressive Style - enter on shoulder completion.
Conservative style - wait for neckline break or shoulder rejection.
Chart PatternsTrend AnalysisgbpusdshortGBPUSD
Comments
KENDI_FX
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I think im going to enter this trade for Sunday. Nice analysis.
Filthy_Scholar
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@KENDI_FX thank you! I'll be waiting for confirmation of the right shoulder for my entry.
KENDI_FX
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@Filthy_Scholar, Alright Cool Bro!
Li_wx
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L don’t agree really with this you.
Filthy_Scholar
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@Li_wx, mind if I ask why?
IsaascLam1966
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On a Daily chart I see an inverse H&S pattern suggesting a long trade. Pls analyse again. April as seasonal trend is always very strong in favour of £. so i would expect £ to move high. Your comments please.
Filthy_Scholar
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@IsaascLam1966 ok thanks. I'll take a look at it again on Sunday.
Generally I'm only interested in price movements up to 48 hours of lining up and executing a trade set up.
Filthy_Scholar
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@IsaascLam1966 had a quick look there while the laptop was still running. Unless that trendline and supply zone in the chart above are broken I do plan to squeeze money out of a drop.

If on the other hand price breaks through, I'll look to a new high and pullback to buy on.
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