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Jmaxfx

GBPUSD Head and ShouldersWith the continuation of the downtrend and scare within the U.S market. I speculate from a fundamental perspective that the downtrend will continue. As for technical, after measuring the swing high & swing low not only does the 61.8 area align with confluence to previously respected price levels. My exit price levels, 127 and 618 align with the weekly low & monthly low. Now I am awaing for the retest in this area, respecting the volume push towards the downside.
Short
by Jmaxfx
US30 Inverted Head&ShouldersReally simple set up, training your eye to spot these patterns in my opinion is essential for developing consistency with your trades. After seeing the reversal, which using the 1H and especially 4H makes these easier to spot. You can see where the left shoulder has formed, aligning with the right shoulder on the 61.8 level. Other than that, we notice the area was not only previous support, but resistance. This liquidity indicates an interest for movement around this level. The rest is all price action and patience.
TVC:US30Education
by Jmaxfx