GBPUSD - possible bullish H&S pattern being created - 12 to 1
hello all. DuncanForex here with another trade idea
I am bullish GBP and on the weekly chart last week it printed a nice bullish engulfing candle.
This lined up with a weakening dollar is the ideal pair to trade.
I think on the 4 hour chart - we are just creating the right shoulder of a head and shoulder pattern.
If it gets to the 61.8% retrace and there is a bullish candle printed in the area - then I am in with multiple entries looking to ride it up to the top. and exit at stages on the way.
Price is currently sat at a strong support level, however if it breaks through, I do expect it to bounce here and ultimately go long
thanks for looking
Duncan
I am bullish GBP and on the weekly chart last week it printed a nice bullish engulfing candle.
This lined up with a weakening dollar is the ideal pair to trade.
I think on the 4 hour chart - we are just creating the right shoulder of a head and shoulder pattern.
If it gets to the 61.8% retrace and there is a bullish candle printed in the area - then I am in with multiple entries looking to ride it up to the top. and exit at stages on the way.
Price is currently sat at a strong support level, however if it breaks through, I do expect it to bounce here and ultimately go long
thanks for looking
Duncan
Trade active
HI all - trades have just activated at the 61.8% retrace at 1.2615
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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.