fxstudent299
Long

Long GBPUSD - potential inverse Shoulder-Head-Shoulder Formatio

FX:GBPUSD   British Pound / U.S. Dollar
Trading idea on 1h chart:
Long GBPUSD             - potential inverse Shoulder-Head-Shoulder Formation

- neckline of potential SHS-Formation and resistance line at about the same level (1.5105-1.5115)
- a move about it, would be for me a stop buy at 1.5120
- that move should happen ideally shortly after positive data on UK Trade Balance and UK Manufacturing Production m/m, which are both at UTC 09:30
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- if EVERYTHING is in place, then:
Open Long at 1.5120, Risk-Reward = 2.33
SL@ 1.5090 (-30), TP@ 1.5190 (+70)
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Disclaimer: There is a very high degree of risk involved in trading forex. I assume no responsibility or liability for any trading or investment results. My posted statements and charts may unintentionally include inaccuracies. All content posted is for educational purposes only and is not a financial advice. The presented set-ups are not solicitations of any order to buy or sell.
- I close position now at about 1.5160 as dont want to have it open over the weekend
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