GBPUSD SWING ANALYSIS - 04/10/2024
It seems a head and shoulders pattern might be forming, but I haven't considered it yet since the weekly candle hasn't closed.
Traders looking at head and shoulders patterns can be targeted if the right shoulder reacts and brings in sellers.
Higher timeframes generally provide more reliable directional trends than lower timeframes, which is why I focused on the monthly trend.
Lower timeframes can be more volatile and are often affected by noise, quick price movements, and short-term fluctuations, so I decided not to switch to the daily timeframe for this analysis.
Are you patient enough to wait for the inducement?
Traders looking at head and shoulders patterns can be targeted if the right shoulder reacts and brings in sellers.
Higher timeframes generally provide more reliable directional trends than lower timeframes, which is why I focused on the monthly trend.
Lower timeframes can be more volatile and are often affected by noise, quick price movements, and short-term fluctuations, so I decided not to switch to the daily timeframe for this analysis.
Are you patient enough to wait for the inducement?
Penafian
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