head and shouldes + overbought rsi and structure

Feb 21, 2019

hey guys,

this evening on pound dollar I have a nice reversal pattern for you.
on a daily t/f you can notice that the market has recently met a decent level of structure after a nice bullish impulse.


on an hourly timeframe we see a nice confirmation pattern.
+ take into account very overbought rsi with clear divergence

what we are looking for is the bearish violation of a neckline.

targets will be based on structure
your stop will be above head

good luck!

Feb 22, 2019

Note

still in a consolidation

Feb 22, 2019

Trade active

Feb 22, 2019

Note

retest of a neckline

Feb 26, 2019

Trade closed: stop reached