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GBP/AUD Massive Head and shoulders on weekly

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Brittiska pund/Australiensiska dollar (FOREXCOM:GBPAUD)  
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FOREXCOM:GBPAUD   Brittiska pund/Australiensiska dollar
Trend Analysis Technical Indicators Chart Patterns GBPAUD
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trendanalysis indicator chartpattern gbpaud
It's still forming, but if this thing starts breaking down, it could go down pretty far. i will be shorting this thing, taking profits and reshorting as it bounces up depending on what it does.

Long term trade, make sure you calculate your risk with stops just above 1.8.

Happy Trading,
-Sherem
Kommentera:
When I poted this was at 1.7750, 100 pip move down. Looking good. If you are looking to enter, ladder in now with positions to short if it moves back up, or wait for a retrace.

snapshot
Kommentera:
taking profit here, going to try and reshort it if it rebounds
Kommentera:
shorting again at this 1.7750 level, with another sell laddered at 1.7873, might move it to 1.7850, we'll see
Kommentera:
We took some profit on this GBP and re entered at 1.7750. I have a ladder placed just below 1.79 to take advantage of this channel action we have going on for the next rebound before a major move down.

snapshot
Kommentera:
Taking profit, placing ladders between 1.77 to 1.7950 to reshort
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