GBPUSD Setup - 01 June 2011

There is a H&S formed on H4. I placed a pending sell order right after the pullback. Entry price was 1.6420. SL will be looking at previous resistance near 1.6450. Based on H&S theory, my TP should be looking around the length from head to neckline which give around 110pips.

EP: 1.6420
SL: 1.6460
TP: 1.6310

H&S H4 Timeframe


Entry on H1 Timeframe


Trade update: TP hit. 110pips