Gbp/Usd Breakout Of The H&S Neckline is a signal to buy!
We have a confirmed buy on the daily chart.
On hour 4 , this head and shoulders pattern is a "Trend Reversal Pattern" meaning the downtred is over and the start of a uptrend will happen now.
The Rules of buying a Head and Shoulders Pattern is to buy on the break of the neckline! We have this on hour 4 and in my opinion this is a signal to immediately buy.
Pullbacks will of course happen on the way up... but I see the take profit to be that yellow zone I created just like on nzd/usd... which also happens to be the 50 fib retracement level!
On hour 4 , this head and shoulders pattern is a "Trend Reversal Pattern" meaning the downtred is over and the start of a uptrend will happen now.
The Rules of buying a Head and Shoulders Pattern is to buy on the break of the neckline! We have this on hour 4 and in my opinion this is a signal to immediately buy.
Pullbacks will of course happen on the way up... but I see the take profit to be that yellow zone I created just like on nzd/usd... which also happens to be the 50 fib retracement level!