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Euro / British Pound
Short

EUR/GBP 4H HEAD AND SHOULDER UPDATE!!

By RiosTrades
Updated
Price Action (Technical Analysis): We have a very strong, healthy, respective Head and Shoulder Pattern here in the 4H time frame. Our neckline is 0.89553, our idea and discipline for entry would have been entering in the right shoulder when anticipating this pattern. (Right shoulder closing at the 38% retracement complimented by loss of bullish momentum) or Entering the market after we have our first impulse breaking pass our neckline giving us all the reason for price to correct itself to previous structure then waiting for a bearish price action reversal pattern. Both ideas are great ways to enter a Head and Shoulder Pattern obviously choice #2 being more confirmed then our #1 option.

Fundamental Analysis: None.
Trade active
Price broke out Consolidating Support also our Head and Shoulder Neckline. 2 Birds with 1 Stone
Bearish PatternsbreakoutChart PatternscorrectEURGBPforextradingHead and ShouldersTechnical IndicatorsnecklinepriceactionshortopportunityTrend Analysis
RiosTrades

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