Head and Shoulder Completion for the long entry in GBPUSD
Hello again,
We're currently sitting in a medium term correction of GBPUSD and the current trend is bullish.
The previous resistant has been broken and if you want the longer term idea of what GBPUSD is doing check my other trade idea.
Now the price is coming back down to retest the previous high of 1.6612 and I'm expecting it to bounce back to the top to push it up for the last time.
My stops go below the right shoulder at 1.6656
More conservative traders may place their stops below the head for safety.
My target is at 1.6671 which is the 1.618 projection.
We're currently sitting in a medium term correction of GBPUSD and the current trend is bullish.
The previous resistant has been broken and if you want the longer term idea of what GBPUSD is doing check my other trade idea.
Now the price is coming back down to retest the previous high of 1.6612 and I'm expecting it to bounce back to the top to push it up for the last time.
My stops go below the right shoulder at 1.6656
More conservative traders may place their stops below the head for safety.
My target is at 1.6671 which is the 1.618 projection.
