Looks like a head and shoulders could form here. My entry zone is between the aqua and orange baseline. Should look to see a 400pip drop if it plays out.
Trade will not be active unless the prices closes in the entry zone.
The fib level further reinforces a resistance for the second shoulder to form.
Trade will not be active unless the prices closes in the entry zone.
The fib level further reinforces a resistance for the second shoulder to form.
Note
remember this isn't a head and shoulders until it breaks the neckline. We are looking for a clear candle closure on the 4hr chart in the pink box before I would consider this an active trade.
Order cancelled
Didn't come to anything after some interesting movement from GBP earlier today
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.