EURGBP Pending Reversed Head & Shoulders At Key Level

Price is about to complete a reversed head and shoulders pattern at a key level. Although the most common way to trade this pattern is after a breakout above the neckline, looking at the chart we may see that the right shoulder will complete at a very strong level offering great support. So when price reached that level we may start watching for a buy setup to form and jump in for a long ride.

Kommentar:

Price has reached the level of the left shoulder comleting the pattern. I have posted a new idea with a bullish cypher pattern. Two different patterns aiming at same direction.