Congratulations!! We did it again!! GBP/USD achieved our massive target of 690 pips as set through our blog post (for our members) dated 31.10.2019.
In our Asset Class Evaluation (Forex) blog post (for our members) dated 31.10.2019 for currency pair GBP/USD (Great Britain Pound against United States Dollar) we identified the technical inverse head and shoulder pattern as below:
1. The Head of the inverse head and shoulder pattern for GBP/USD was formed on week number 36 (week ending on 06.09.2019) at the swing low of 1.1958 price level.
2. The Right Shoulder of the inverse head and shoulder pattern for GBP/USD was formed on week number 41 (week ending on 18.10.2019) at the swing low of 1.2195 price level.
3. The Left Shoulder of the inverse head and shoulder pattern for GBP/USD was formed on week number 25 (week ending on 21.06.2019) at the swing low of 1.2506 price level.
4. The neck line was drawn joining the in-between (between Head and Left Shoulder and Head and Right Shoulder) swing highs of week number 26 (week ending on 28.06.2019) and week number 38 (week ending on 20.09.2019).
5. The last bit was to draw a vertical line from the neck line to the low of the Head and copy-paste the same vertical line on top of the neck line when it was broken (i.e. price crossing above the neck line) to get the target of 1.3215 as shown below:
At the time of writing this post, the Forex Currency Pair GBP/USD has hit our huge Profit Target of 1.3215 resulting a Profit of 690 pips.
Our post dated 31.10.2019 for our paid members:
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