Forex Trading Blog

  • Recent Posts

  • Categories

  • Archives

  • Subscribe

    Add to Google Reader or Homepage

    Add to My AOL

    Subscribe in NewsGator Online

     

    Forex Trading Blog - Forex Trading Blog » DailyFX Radio Podcasts - Forex Trading Blog » DailyFX Radio Podcasts





  • Opinions - Not Facts

    This blog consists of contributions from FX EDU staff, executives and people that have a relationship with FX EDU. In spirit of a blog, the posts are conversational and opinionated. However, they are not official FX EDU policy and not double-checked for facts. The authors are providing information that they believe to be true or opinions they hold. To verify information or check official FX EDU policy, please contact FX EDU through the firm's official website, www.fxedu.com.

    • « How to know how much a “pip” is worth for any pair! | Home | Trade triggered! »

    Possible Head and Shoulders Pattern in GBP/USD?

    By Mike Conlon | August 24, 2009

    A lot of times, especially during the summer slow months, there isn’t enough fundamental news to drive the markets and it’s times like these when the technicals can really take over.  Just doing a quick perusal of some charts, I came across this:  a possible head and shoulders pattern in GBP/USD.  Have a look:

    gbphs.JPG

    As you can see, this pattern isn’t “perfect”.  Yet it’s close enough to merit some observation in my book.  I’m going to keep an eye on this pair and will be shorting the breakdown around 1.635 should the pattern complete.  Stay tuned!


    Tags: , , , , , , , , , , , , , , , ,

    Topics: What To Look At In The Market |

    Comments