GBPUSD: Heads and Shoulders

9 déc. 2020

A typical H&S on H1 timeframe. The cable may not make it above the multi-year resistance. I am already in a short position. And I will be looking to open another short position if this H&S pattern completes. The outcome of Boris Johnson's meeting tonight will give us further guidance as far as this idea is concerned.

9 déc. 2020

Note

Head and Shoulders playing out nicely, I'll be looking for another short at the end of the American session if the day gives up its bullish stance. Here we go!!!

10 déc. 2020

Note

Good morning traders, as we can see, our predicted Head and Shoulders is playing out very nicely, it is around the neckline, and we will be expecting a breakdown. My former losing short position is now in fine profit and I will be holding it for the long haul. This is the beginning of a mega downtrend, which will probably last multiple weeks. I could not enter another short because my confirmation didn't trigger, but price action looks like it might trigger today. I will be looking to add the short position by the end of the American session.