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Nathanp7

EURGBP. Trade what you see, not what you think.

Short
Euro / British Pound (FX:EURGBP)  
Nathanp7  
FX:EURGBP   Euro / British Pound
Trend Analysis Chart Patterns Ascending Channel EUR GBP headnandshoulders short shortsetup
3
0
trendanalysis chartpattern ascendingchannel eur gbp headnandshoulders short shortsetup
A clear ascending channel that has been broken and has been retested on the 1hr time frame with a bearish pin bar.
Market structure has changed and now potentially created a lower high. This change in market structure has now potentially created a price reversal pattern, a head and shoulders.
I will be waiting for price to break the 0.8877 level ( kneckline), make a pullback and valid retest and take short position.
The red zone shows an area of price sensitivity.

Let me know your thoughts,

Thanks

Nath
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