( +90, +BE ) WEEK21 GBPSGD H4 INVERTED HEAD AND SHOULDERS COMPLETE, READY FOR UPSIDE MOVEMENT.

GBP Pound crosses could be seeing a strong moves in the near future.

w1

week21 GBPSGD w1 bullflag 13TL 210515

A nicely connected bullflag has not yet broken out , but currently price is at the top, on the verge of breaking out.

h4

week21 GBPSGD h4 1234 H4t 210515

Going by personal definition of trend on a week to week (w2w) basis , past 5 weeks have registered higher lows each week. This is advantageous for a swing trader who wishes to earn profits within 1-4 days, since the probability of another upweek is high.

On day to day momentum ( d2d) , tuesday registered a hammer, suggesting that price respected the 52 weeks level. Thereafter a right shoulder was completed, from the line chart version.

That suggested that price is likely to continue from past 5 weeks of trend.

updated 230515

trade outcome +90.

Exited on friday morning after seeing that price was not able to register new highs in the morning. Left pos BE out.

Overall good trade setup, excellment trade management. I may not have gotten the large move correct, but I did well by exiting and managing the risk correctly.

week21 GBPSGD h4 trading outcome +90 230515

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