gbpusd is currently trading @ 1.5537 and i saw a h&s bottom for the second time.
am buying the pair with stops @ 1.5400 - the low of the h&s - and my target would be @ around 1.5650-1.5700.
from that point i will decide up on the next movement.
i see three different possibilities for gbpusd at the current time.
1. breaking the target area and moving up to around 1.5800
2. moving up to the target area and creating a 5th point then moving downward, then waiting for the h&S bottoms to break for a down movement
3. moving up to the target area then creating another low near the two h&S and completing a 5 movement correction.
the only trade i got right now is the buying with stop @ 1.5400
am buying the pair with stops @ 1.5400 - the low of the h&s - and my target would be @ around 1.5650-1.5700.
from that point i will decide up on the next movement.
i see three different possibilities for gbpusd at the current time.
1. breaking the target area and moving up to around 1.5800
2. moving up to the target area and creating a 5th point then moving downward, then waiting for the h&S bottoms to break for a down movement
3. moving up to the target area then creating another low near the two h&S and completing a 5 movement correction.
the only trade i got right now is the buying with stop @ 1.5400