Short

GBPUSD - HEAD & SHOULDERS ALTERNATIVE PROJECTION

So for the past few weeks we've been projecting a (short-term) bullish continuation setup ending right below the 1.28 even handle. However, as price continues to put in deeper retracements & shot limit signs of expansion I also started to prepare myself for how I would handle a move to the downside.

What we're looking at on the chart is a potential head and shoulders top pattern where if completed would project a move down to the 1.20 level. The "slanted neckline" provides more opportunity, while the "horizontal neckline" provides more conformation.

For a more detailed look at this particular setup please watch the youtube video "Learn to Trade - Predict, Wait, Then React" around the 1:25 mark.

Your Trading Coach - Akil

Akil_Stokes

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Akil_Stokes

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