Head & shoulders Patterned Formed On Gbp/Usd
As You Can See We Were In A Bullish Uptrend From Around 13/14th March And Then We Broke The Trendline And Have Been Moving Sideways And Underneath That Trendline For A Couple of Weeks. Last Nights I Noticed A Head & Shoulders Pattern Forming Which Indicates a Bearish Reversal.
Only Problem Is The News Coming Out This Week And Next Monday Which May Send Sterling Higher.
I Am Currently Bearish For Next Week But Will Approach With High Caution.
I Personally Want a Break To The Downside From 1.23480. Then I will Look To Sell.
Happy Trading And Be Safe
Hayden
As You Can See We Were In A Bullish Uptrend From Around 13/14th March And Then We Broke The Trendline And Have Been Moving Sideways And Underneath That Trendline For A Couple of Weeks. Last Nights I Noticed A Head & Shoulders Pattern Forming Which Indicates a Bearish Reversal.
Only Problem Is The News Coming Out This Week And Next Monday Which May Send Sterling Higher.
I Am Currently Bearish For Next Week But Will Approach With High Caution.
I Personally Want a Break To The Downside From 1.23480. Then I will Look To Sell.
Happy Trading And Be Safe
Hayden