Forex-EURO vs BRITISH POUND : Cont Head & Shoulders formation

BORAMOR

BORAMOR

eurgbp daily 15.jpg
 
Not a very convincing Head and Shoulders formation on the EUR/GBP but let's see...

Are you waiting for the pullback to the alleged breakout line (neckline) to pull the trigger?

Thanks for sharing anyway and have a pleasant weekend.
 
Tradex said:
Not a very convincing Head and Shoulders formation on the EUR/GBP but let's see...

Are you waiting for the pullback to the alleged breakout line (neckline) to pull the trigger?

Thanks for sharing anyway and have a pleasant weekend.
More...
yes
 
This is not head and shoulder formation.

This is called :

- swing up swing down swing up swing down .... formation

- ranging pattern

- erratic messy, neither here nor there pattern
 
By the way, EUR/GBP is almost an inverse chart of GBP/CHF. This means if you don't see a valid entry formation short on the one, you might get an valid and equivalent long entry on the other.

GBP/CHF generally moves about twice as many pips per day / week / month as EUR/GBP though in percentage terms their daily ATR14's are about equal. Its possible some brokers offer narrower spreads (as a percentage of price of course) on one pair than the other.
 
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