Simple guideline:
H&S formation was meant to crush support.
So be carefull if there is resistance above suspected H&S formation, probably its not H&S at all.
Disliked{quote} that is the problem with Head and Shoulders pattern - most of the time they do not work http://www.forexfactory.com/showthre...33#post5508333Ignored
DislikedEU sentiment data woah, FF-members are now again very short with 61% Also by looking at various broker data, the retail crowd turned bearish again this afternoon. Maybe a recipe for further inclining price in EU? From an EW point of view: on the way down from the 399x top, price consolidated in a wide swinging triangle up from the 1098 low. Highest point in the triangle is the 1534 high. This triangle is most likely the wave 4 of wave 3. Now we are, when above scenario is true, again in a wave 4 up. Most of the time a wave 4 goes up to the wave...Ignored
Disliked{quote} What i learned with chart pattern trading is that you need to establish lower TF entry with such patterns to make them work. In general terms trading them straight ahead as they are "sold" you are right they work by rather weak results and most important they product a lot of fakeout entries. However that article you posted does not include (solid article, but doesnt cover proper entry aspect) is how to enter such patterns on break, and know where to quickly cut loss, and to ride it well, this is what makes large difference. I just quickly...Ignored
Disliked{quote} Ye we are that the h4 clear highs, so its expected to see retail go short. Structurally what PA is telling, is that it wants break higher and retailers are confirming it. If bears cant kick in properly push that to 280 strongly then we should head higher.Ignored
DislikedLavanda, yesterday you asked me why I only look for shorts in this situation with the EU right now. I think you have deleted the posting now. Sorry for answering lately. You can play the situation from both sides. But keep in mind: a) EU is up around 1000 pips from the low b) EU is now in resistance zone c) social mood is turning to bullish in EU So I would rather go short with a tight SL than to go long. But that is just me.Ignored
Disliked{quote} How do you work with this low volumes areas?? 14,80- 15,50. We have seen that sometimes is like a border, and other times the market go to fullfill the non-business areas? I edit myself, good area to short would be over 15,50Ignored