CoinSparrow
Short

GBPUSD - 60 - Double Top

FX:GBPUSD   British Pound / U.S. Dollar
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2
Do not trade based on my ideas - I am a novice trader and post for your interest only.

Spotted a double top (maybe even triple!) at the hourly here. I believe the price will fall to respect the intersection of trendlines .
If it does do this, it may form the right shoulder of inverse head and shoulder (spotted thanks to Mr. FxCanli - his idea is in the link below), then I believe it will ricochet back up :)

The nice thing about double top is that stop loss can be only very small - if price action goes above it is invalid :) Again to be proper you should wait for breaking the neckline but personally I don't mind to break the rules for such a good ratio.

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