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botje11
Jun 6, 2019 2:42 PM

GBPUSD Inverse H&S 

British Pound/U.S. DollarFXCM

Description

Looks like a decent inverse H&S in the making here. The size of the H&S as we can see on the left is almost perfect. But when zooming in, we can see the shape is not really great. So i would be a bit careful with this one. I would like to see the right shoulder getting a bit bigger in time, so far it's too small. If we see that happen and then break up, i will very likely wait for a successful pullback before getting in.

Normally i don't mind giving it a shot earlier with an H&S, but this one is not convincing on the lower time frame.


Previous analysis:
Comments
UGTraders
TradingShot
Yes not impossible based on the 1D/1W charts. But currently the momentum swings lower within this 4H Channel Down.

majormajor
Thank you for not forgetting about the forex markets :)
DACapitalTrading
Great setup following you now! About to post a trade aswell, have a look on my profile and let me know about it buddy :)
DACapitalTrading
Great setup following you now! About to post a trade aswell, have a look on my profile and let me know about it buddy :)
elmir84
Does anybody know where trade forex with margin for a US resident?
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