Wolfthorne
Short

GBPUSD Head and Shoulder - Short

FX:GBPUSD   British Pound/U.S. Dollar
236 4 4
Hanging man occurred at 1.5500 Resistance level , intercepting the 200EMA and the 0.618 Retracement Zone.
This creates positive sentiment to the creation of a right shoulder. Path of least resistance is Bearish and next significant support zone occurs at 1.5000, creating a nice 3.5:1 Reward:Risk.

Being a Head and Shoulders pattern however and using the applicable techniques we are ideally looking to target 1.4600 for 6:1 R:R trade.
Great idea.....good luck to you and me!
Reply
Great. With a Hawkish FOMC this week, your bearish scenario for Cable is very likely to occur.
Reply
with the s&p uk debt downgrade friday looks like to be a sweet looking trade
Reply
Well pointed out correlation!
Reply
Ideas Scripts Chart
United States
United Kingdom
India
España
France
Italia
Brasil
Россия
Türkiye
日本
한국
Home Stock Screener Forex Signal Finder Economic Calendar How It Works Chart Features House Rules Moderators For the WEB Widgets Stock Charting Library Priority Support Feature Request Blog & News FAQ Help & Wiki Twitter
Private Messages Chat Ideas Published Followers Following Priority Support Public Profile Profile Settings Account and Billing Sign Out