EUR/GBP - Head & Shoulder Pattern Complete!

2020년 7월 13일

Hello Traders!,
We're at the beginning of our trading week and today I've realised a head and shoulder pattern I've been eyeing is finally complete and is almost time for an execution!
What Is The Market Telling Us?

• Price has been in uptrend and was halted once it reached resistance of @0.91505
• Head and shoulder pattern complete once price has shown a bearish closure upon the break and retest of neckline
  
• MAs show market sentiment is bearish as 50SMA is above 14EMA and a bearish crossover before
  

When Should We Enter?

• As we are on a 4H timeframe we can look to enter once our neckline has been respected as a resistance level
  
• Execute on 1H timeframe after a clear bearish closure below our neckline, this closure confirms neckline being respected