GBP/USD - Hightest Candle Forming Right Shoulder On Intradays
Updated
Tidy little hightest candle on some strong resistance which on the intraday charts is setting up a nice right shoulder to complete a head and shoulder pattern. Lots of room on my stop stop loss to leave room ahead of NFP.
- Perfect hightest candle on 1D
- On resistance on 1.4400
- Head and shoulder pattern on 4hr
- With trend
- 1:2.75 RR
- Hybrid trade
- Safe stop loss ahead of NFP
- Perfect hightest candle on 1D
- On resistance on 1.4400
- Head and shoulder pattern on 4hr
- With trend
- 1:2.75 RR
- Hybrid trade
- Safe stop loss ahead of NFP
Trade active
Loving this trade! As expected price has moved pretty strong in my favor and already hit my first profit target giving me about 1.25%. I moved my stop loss to my entry price to bulletproof the trade and now just wait for movement to my next target. If it reverse ill get stopped out on the other half of my trade breakeven. * I place orders using a hybrid entry meaning I divide my trade into two parts. Each one for 1% of my account totaling 2% risk total. Each half is set to a different profit target.
Trade closed manually
Closed out my trade after today's moves. Big ol' lowtest formed right on support and what looks like a possible right shoulder to and inverse head and shoulders pattern. I took just under 1.5% from this trade. I'm prretty happy all around especially trading through some consolidation
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