GBPAUD May give us a great sell opportunity if the price break the Head and shoulder neck line. for who don't know what is the Head and shoulder Pattern it is >
One of the most popular Chart Pattern. This pattern appears on all times frames and can therefore you can use it if you are a swing trader or a Daily trader. Formation of the pattern 1. Up trend 2. It is formed by a peak (shoulder), followed by a higher peak (head), and then another lower peak (shoulder). 3. The neckline is drawn by connecting the lowest of the two troughs Entering: when the price break the neckline Stop loss: above the right shoulder Target: calculate a target by measuring the high point of the head to the neckline.This distance is approximately how far the price will move after it breaks the neckline.
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