This is a 5 minute trade off the pound-dollar from Friday. This trade is not as common as many but it was in fact a GREAT set up. The 15 minute time frame was very much down as price was trending below the red moving average and so when I saw this head and shoulders top pattern with the 15m trend I said wow this could really be a good one! sure enough price broke and confirmed below the neckline and then QUICKLY retested it. Remember, a quick retest is key!! Usually within 2-5 bars of the breakdown is what you want. If its 10 or 15 bars you missed your move and you should NOT be getting in the trade! So price came back up to retest this broken support level/neckline and at the same time you had the upper band of the 6 period lwma being hit AND the 60 period lwma was sitting there as well. Excellent short opportunity and you can see my stop was 2 grid bars above the entry and therefore the first target was 2 bars below. Though you cannot see it from this chart, price continued some 150 pips straight down on Friday before a minor reversal at the end of the session. Your risk on this was about 16 pips. I will also say that the 1 hour and 4 hour time frames were all down as well so this was REALLY a strong sell trend and continues