MASSIVE DAILY INVERTED HEAD AND SHOULDERS ON GBP/USD!
Hello my beauties.
I noticed this massive head and shoulders has formed during the pandemic.It has led the price to break a bearish trendline that had been lasting since November 2007.
Since the pound has been in such a prolonged downtrend, I wouldn't be surprised if it came back down to kiss the trendline, so I'd be wary of opening longs right now.
The ideal scenario would be a drop around the trendline and a price reversal from there. I will be observing this pair as I believe it will be providing multiple opportunities.
Check out my other analysis in the description.
If you find this idea to be helpful like, follow, and drop a comment below if you'd want me to analyse a different pair.
Consider supporting me if you think I am providing you with value.
Peace.
Luca, TrickleDownFX
I noticed this massive head and shoulders has formed during the pandemic.It has led the price to break a bearish trendline that had been lasting since November 2007.
Since the pound has been in such a prolonged downtrend, I wouldn't be surprised if it came back down to kiss the trendline, so I'd be wary of opening longs right now.
The ideal scenario would be a drop around the trendline and a price reversal from there. I will be observing this pair as I believe it will be providing multiple opportunities.
Check out my other analysis in the description.
If you find this idea to be helpful like, follow, and drop a comment below if you'd want me to analyse a different pair.
Consider supporting me if you think I am providing you with value.
Peace.
Luca, TrickleDownFX
Publications connexes
Clause de non-responsabilité
Les informations et les publications ne sont pas destinées à être, et ne constituent pas, des conseils ou des recommandations en matière de finance, d'investissement, de trading ou d'autres types de conseils fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.