FOREXCOM:GBPUSD   British Pound / U.S. Dollar
Hello my friends,
As you saw my last pound analyse you can remember that we just reach our first long target and after a forming a bearish wedge ,dropped,Till now all things was natural and look like it is time to short it again,but when you look at chart more accurate can see we have an IH&S in chart.look at it:
It man if we can break neckline,we can easily break this channel and reach to targets like 1.321 ,easy.In other hand we have bullish reversal in RSI and Bullish crossover in MACD ,in 4H, too.All of these can say to us that this time is different,but if we can't break neckline(or black dotted line),it can be a sign for another short trade to 1.294,as first target.
I will update this idea as soon as i find new sign.
Good Luck
Peyman A
Comment: So look like that ih&s failed,time to short pound.
Trade closed: target reached: First target reach,move your stops lower.we have second target around 1.286.be careful.
Good Luck
Trade closed: target reached: We are close to my second target,be careful and move your stop lower and enjoy pips that we gained.
New Trade coming soon.
Trade closed: target reached: Now reached. 1.862
Good Luck
Comment: *Sorry
1.286
Comment: New Update

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