EURGBP > Cringeworthy Bullish Trading Setup
Analysis of #EURGBP
before we argue about if this Is an inverted head and shoulder or not, plz note that I say this is is an inverted head and shoulder "for me"
Patterns are just human behaviors, not engineering since, and do not let anyone convince you that HS is only a reversal pattern and cant be used as a continuation, actually any pattern can be used in a reversal trade or continuation trade.
so let's get into it, as u can see the seller came and try to heavily push the price down they got rejected and buyers came and pushed the price back to where it was -neckline- now starts the story of the right shoulder as you can see price is hugging the resistance level and buyer are not giving up the price yet, so the indecision continues.
Bigger picture we are in a wedge which to me breaks to the upside, so my prediction is a break to the upside.
forgot to mention that we are in two trades in this one, currently up 126pips, 48pips and looking to add more if the rules are met
-Do not forget to comment below, and if you like it then smash the like button 😉
⠀
Check today analysis below⠀
_____________________________________________________________________________⠀
-DISCLAIMER: This Information Is Not a Recommendation to Buy or Sell. It Is to Be Used for Educational Purposes Only⠀
-⚠ Please Note This Is Just a Prediction and I Have No Reason to Act on It and Neither Should You
before we argue about if this Is an inverted head and shoulder or not, plz note that I say this is is an inverted head and shoulder "for me"
Patterns are just human behaviors, not engineering since, and do not let anyone convince you that HS is only a reversal pattern and cant be used as a continuation, actually any pattern can be used in a reversal trade or continuation trade.
so let's get into it, as u can see the seller came and try to heavily push the price down they got rejected and buyers came and pushed the price back to where it was -neckline- now starts the story of the right shoulder as you can see price is hugging the resistance level and buyer are not giving up the price yet, so the indecision continues.
Bigger picture we are in a wedge which to me breaks to the upside, so my prediction is a break to the upside.
forgot to mention that we are in two trades in this one, currently up 126pips, 48pips and looking to add more if the rules are met
-Do not forget to comment below, and if you like it then smash the like button 😉
⠀
Check today analysis below⠀
_____________________________________________________________________________⠀
-DISCLAIMER: This Information Is Not a Recommendation to Buy or Sell. It Is to Be Used for Educational Purposes Only⠀
-⚠ Please Note This Is Just a Prediction and I Have No Reason to Act on It and Neither Should You
Related publications
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.