GBPUSD - Head and Shoulders - Bullish

Bullish Head & Shoulders on the GBPUSD.

We see the formation of the H&S pattern on the chart.

Both shoulders rest on the same level.

On 15 minute time frame you can see bullish price action at the right shoulder level.

Suggested Trade Parameters

• Place a pending Buy Stop order above the neck line.
  
• Place the stop loss below the Head of the pattern.
  
• Take Profit 1 is the D point of an ABCD harmonic pattern formed from the head and right shoulder.
  
• Take Profit 2 is the hight of the pattern (head to neck) - extended upwards.
  

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Good luck!

Feel free to comment and ask questions.

Dagangan aktif:

The Buy Stop order has been filled and we are in an open position.
Good luck everyone :)

Dagangan ditutup: sasaran tercapai:

Take Profit 1 Has been reached.
If you still have an open trade you should move the stop loss to the entry point.
Don't let a winning trade become a loosing trade :)