GBP/USD Head & Shoulders Pattern

[FX Baby]

Morning all,

I see a nice head and shoulders pattern on the daily chart which I'm going to trade. I have also posted a picture to show you.


The Trade:

Sell= 1.9700
Stop= 1.9750

target= 1.9400


Lets see how this pans out. Good luck!

[rfed]

Hi FX baby

I just posted a thread in newbie island "Trading outside you system"

Please read the thread and tell me what you think.

[FX Baby]

Our head and shoulders pattern have become a descending triangle pattern as indicated on the picture I've attached.

The trade is still valid as before. Sellers are entering in force so hopefully our trade will be triggered today




Good luck all!

[FX Baby]

Exit 1st lot at= 1.9634 then move 2nd lot stop-loss down to entry point= 1.9700




Good luck!

[cadarkitek]

Originally Posted by FX Baby

Exit 1st lot at= 1.9634 then move 2nd lot stop-loss down to entry point= 1.9700




Good luck!

Hey "short-termer", I already exit with a profit of 35 pips.

[FX Baby]

Hi all,

well....me and pipcrawler had the same idea and trade but our trades were stopped out!!

2 x lots= -100 pips!

Remember never risk more than %5 of your capital on a trade! I'm still certain this pair is going to continue down so I'm gona enter again at slighty different levels.

The Trade Take 2:


sell 2 x lots= 1.9675

stop= 1.9750 (75 pips each lot)

Target 1= 1.9600
Target 2= 1.9400


Good luck!!