EURGBP HEAD AND SHOULDERS COMPLETE
Updated
This is the daily timeframe view:
The pair has formed a perfect head and shoulders pattern, which suggests a short.
We, however, trade with confirmations only, so wait for the confirmed breakout(2h candle closing below the level), then wait for the retracement, and only then>> short.
SL above the green zone.
You might ask: what if there is a breakout, but no retracement? Then we just don't trade the setup at all!
Without it we can't get a decent risk reward profile, which weakens our trading edge, and so in that case we simply don't trade!
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Wish you all the best of luck in your trading!
Note
Pay attention, price at a level again.Did not have the power to go higher. The pattern is about to be complete. Wait for a breakout.
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