Waiting on right shoulder but is this a valid head and shoulder parttern. any analysis welcome new to pattern trading.
If not valid please explain why and what we needed for it to be valid.
much appreciated team.
Hi please can someone tell me if this is a valid H&S im new to pattern trading so was wondering more experienced traders' thoughts and analysis on this???
is it valid if not what makes it invalid and second is there still a sell trade to be made (off the pattern) i know cpi was strong for GBP so fire away any questions or pointers
thanks
I also see one...
Firstly, the Daily is in a downtrend so keeping this in my mind going into my intraday trade.
However, the 4hr looks like it can keep its uptrend momentum.
with the respected zone holding its support 3 times im hoping to catch a small bounce with a small buy and see if we can reach the daily pivot. I'll move my S/L up with the 5min trend. o.o2 lots only will...
On the daily we have a clear bounce of the trend line.
Moving Down to the 4hr we have our first reaction off that key level around the 1680.
This puts me in a Sell bias. Double top has formed on the 1-hour chart.
I'm now going to wait the exhaustion
On my Entry time frame the 15min or possibly the 30m I'm going to look for my entry rules to be met either...
Strong key level been respected numerous times. Strong wick rejections on the 4h. Waiting on confirmation of evidence for possible long positions to the upside.
