GBP/NZD Trade Setup: Short Position on Head and Shoulders Patter

29 aug.

I've identified a head and shoulders pattern on the 12-hour and daily charts for GBP/NZD and have initiated a short position based on this classic reversal setup.

I'm opening two trades for this setup:

The first entry is at 2.11218, near the neckline of the head and shoulders pattern.
The second entry is at 2.11487, triggered by a 12-hour close below the neckline, confirming the pattern.
This dual-entry approach allows me to capitalize on both the initial break and the confirmed move, enhancing my overall position. I'll be monitoring the trade closely and will provide updates as it progresses.