GBPUSD SHS Pattern and Triangle Breakout
Pair / Instrument: GBPUSD
Time Frame: H4
The trend in the Timeframe: BEARISH
The trend in the Daily Chart: BEARISH
Description: Cable is forming a Head and Shoulders Pattern. The neckline of the pattern is the baseline of the triangle pattern.
Trade Based On: Bearish SHS and Triangle Breakout
Entry: 1..30800 – projected breakout level –
Stop Loss: 1.31300
Take Profit 1: 1.30400
Take Profit 2: 1.30100
Target of the formation: 1.29850
Update: GBPUSD reached the targets 70 Pips
You can follow the idea: GBPUSD TRADE IDEA
Rules To Keep In Your Mind: Trade Safe. Money Management is the key to success in forex trading. Do not risk more than 1% of your account in each trade.
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DISCLAIMER: This is a technical analysis study, not an advice or recommendation to invest money
SHS Pattern: Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these securities. You should do your own thorough research before making any investment decisions. Chartreaderpro does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Forex involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility