GBPUSD-Weekly Market Analysis-May19,Wk3
GBPUSD is showing a downtrend movement on the daily chart.
On the 4-hourly chart, the market does show a possible potential head and shoulders. I will definitely need to wait for the candle to touch the read shoulder before I can engage.
On the smaller timeframe, you can see the blue bullish bat pattern. I have already engaged this, thought market move back to my entry price but I'm going to follow my rules and wait for the 1st target being hit, then I will shift stops to entry.
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On the 4-hourly chart, the market does show a possible potential head and shoulders. I will definitely need to wait for the candle to touch the read shoulder before I can engage.
On the smaller timeframe, you can see the blue bullish bat pattern. I have already engaged this, thought market move back to my entry price but I'm going to follow my rules and wait for the 1st target being hit, then I will shift stops to entry.
Love this analysis? Like it and Share it with your friends.
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