GBPAUD, 4hr tf, shoulders head pattern to materialize
Hello my friends,
For today we are going to try selling GBPAUD.
It looks like price making a shoulders head pattern to me. The neckline is located at 1.8000 and it has already broken.
The measured objective of this pattern is 320-330 pips.
It could go towards 1.7680 to complete this pattern.
As you can see, GBPAUD also moving inside a downward channel so we could expect price to continue decline as long as it is moving inside this channel.
Sell positions are more favorable compared to buy.
Sell GBPAUD 1.8000
Stop loss 1.8060
Take profit 1.7680 (4R)
RR ratio 1 : 4
Use only 1-2% risk
Good luck
For today we are going to try selling GBPAUD.
It looks like price making a shoulders head pattern to me. The neckline is located at 1.8000 and it has already broken.
The measured objective of this pattern is 320-330 pips.
It could go towards 1.7680 to complete this pattern.
As you can see, GBPAUD also moving inside a downward channel so we could expect price to continue decline as long as it is moving inside this channel.
Sell positions are more favorable compared to buy.
Sell GBPAUD 1.8000
Stop loss 1.8060
Take profit 1.7680 (4R)
RR ratio 1 : 4
Use only 1-2% risk
Good luck
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