gbp short, page-7

hehe...bounced on the 50% retracement of the nearest "trend" and expect it to consolidate for a while. A bit annoying waiting but I guess the longer it consolidates, the greater the push down after this.

Good thing is that it is also carving out a profit protection point above the swing high. Tightening stop losses to protect half the profits.

Anyone trading the EURGBP?

hehe.. I hardly trade H&S unless it is in a major retracement area. Having seen the maths and mechanics behind the H&S, I noticed that a logical interpretation of the pattern requires analysing the sine wave of the price action. Having said that, I still like the pattern; it's not subtle - it just tells you when you are wrong ^_^