The Gbp/Usd pair had made a brake of the 50sma 8h SurpriseBox. The brake formed a head and shoulders pattern. The volatility of the pound brought this pair back to the box yesturday but today again directing toward the target. Bumpy road as moving averages were on the way including the 100sma and 200sma serving as support (or resistance depending the way you look at it). I initially traded short but failed to get out when it touched the 100sma so I got stopped out (I got shaken out of the position).
Disclaimer: I trade the patterns depicted either at the entry point stated (e.g. trading channel, breakouts) or afterward. Although my trades are based on technical analysis, trading forex is a risky activity and may produce significant monetary loss. I only make public the trades that I am considering to make, or made and the rational for them. Not intended necessarily as trading recommendations. By SurpriseTrade@gmail.com
