GBPUSD

gbpusd - daily.
uk.advfn.com/p.php?pid=chartscreenshotsh...aQhEXL%2FmknKIVwg%3D

i was looking at this earlier as well....
For me the key is the 200 day ema line, until a break and hold above that level, this is still in a downtrend...
lets see....i may get tempted to short the 200 day ema line level at 1.2575....

for the h&s....
Head and shoulder is the pattern for a top confirmation....
to confirm a bottom, we need a inverted h & s....
this may well have formed a inv h&s, its not a perfect inv h&s, but they don't need to be perfect....either way i make the neckline for the inv h&s around that 200 day ema line feature...
so the key area is that 1.2575....above that time to go long....and buy the dips....while below the 200 day ema, still short the rallies imvho....

atb, wdik, dyor,
trendfriend

Thats some serious move up, don't think my sell setup is still valid,

Another potential short setup on cable, this time inside bar(unless it change be the end of the day).
sell 12194, stop 12304, target 12000 area

Cheers Madmaxx!

Yes, I saw the double bottom - which could end up being a triple bottom the way things are going...

Lots of liquidity at 1.190-1.200. (I'm told) institutional are buying at these levels as a hedge ahead of further weakness - but who knows.

I'm starting to think what's happening now is exclusively rich folks who are long vs rich folks who are short - all being played out in this toxic arena.

Hi, it's way to early to call this h&s, might be double bottom earlier, but who knows.At this stage i can't see anything obvious yet.

Hey Folks,

Well, never a dull day in Cable land...

TrendFriend showed a wicked H&S pattern on the weekly a while back, but I wonder, is there now one forming on the daily?

Also, not the 50 DMA couldn't hold today...

Good Luck all, happy to receive feedback (correction more like!), and be safe out there folks!