GBP Inverse head and shoulder pattern

I have identify a inverse head and shoulder (IHS) pattern and plotted graphics. The trend is still down as I don't see higher highs yet, so my bias is still bearish, however I will consider all possible moves the price can make. With a bearish trend still in tact I will consider the triangle pattern as my bearish trade indicator (head to left shoulder and neckline of IHS). A tentative head and shoulder pattern always form a triangle pattern between the head and the right shoulder. A triangle pattern is not necessarily a trend continuation pattern , you have to read the price action within the pattern and take a birds-eye-view of the chart (higher timeframes works good for this).

Yorum:

Super low timeframe traders can trade within a pattern. Sell near resistance Buy at support.

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DISCLAIMER: I am not a financial advisor and anything that I say on these channels should not be seen as financial advice. I am only sharing my speculation and personal experience.

Yorum:

This was a false breakout and short lived the war tension in the Middle east surely have a major impact.