NadirForex

GBPCAD incomplete pattern of head and shoulders

FX:GBPCAD   British Pound / Canadian Dollar
as you can see i have drawn the H&S pattern onto my chart because the price respected the neckline and price is currently floating around the price of the left shoulder. if we look into 1 hour time frame, there are visible signs of price losing its strength and also getting weaker. in this scenario i thought it was best to execute in the 2 hour time frame because we can see a doji alongside a bearish candle to indicate that there is a possible chance of witnessing a downtrend.
Feb 22
Trade closed: target reached: congrats to those who managed to short this pair with us.

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