New week

Hey traders, how are we all today? It's currently 1:12 AM AEST and I have just setup a trade in the GBP/USD. Price action has been whipsawing since the start of the European session, jumping from one headline to the next.

However, like Homer Simpson puts it, this is "crisitunity"; as in oppportunity in the midst of crisis ; ).

GBP/USD

We can see strong resistance at the 1.064 level where price has not managed to close above of since Nov 4. Recent price action saw a fake out, followed by a nice pin bar tail. Ideal entry for short which I have setup @ 1.063 area with initial target of neckline at 1.59. However, I am looking for that break of the head and shoulders pattern to carry the pair into the 1.57 area.

As I am typing this, the trade has just been executed. We shall see how I go ...