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  • #61,941
  • Nov 21, 2018 9:57am Nov 21, 2018 9:57am
wake me up @ 1.13
  • #61,942
  • Nov 21, 2018 10:00am Nov 21, 2018 10:00am
Quoting Techanalyst
Look it's SHS. Ignore the yellow line not a neckline. {image}
That isn't valid, the right shoulder needs to be higher then the left, opposite for inverse.
  • #61,943
  • Nov 21, 2018 10:00am Nov 21, 2018 10:00am
Quoting asyurei3
{quote} That isn't valid, the right shoulder needs to be higher then the left, opposite for inverse.
It's good enough.
  • #61,944
  • Nov 21, 2018 10:02am Nov 21, 2018 10:02am
Quoting Ata-Turkoglu
New Sell Order: 1.1395 Lot size: x/2 SL: 20 pips TP: Open ---Edit--- Added a 2nd short order: 1.14035 Lot size: x/2 SL: 16 pips TP: Open Stay Green
Closed 1st trade manually with +4 pips / 2 = +2 pips cached in. Will try to add this one later again with hope to get a better price.

Moving SL of 2nd trade to 1.1403 (Overall: Zero risk now!)

Stay Green
Focus only on what truly matters!
  • #61,945
  • Nov 21, 2018 10:03am Nov 21, 2018 10:03am
Quoting Techanalyst
{quote} It's good enough.
i think your song "down down EU is going down need to be singin again
  • #61,946
  • Nov 21, 2018 10:03am Nov 21, 2018 10:03am
Quoting Techanalyst
Look it's SHS. Ignore the yellow line not a neckline. {image}
I notice that if you draw a trendline from the left shoulder down to the right shoulder on the MACD you will see that the MACD confirms H&S downtrend
  • #61,947
  • Nov 21, 2018 10:03am Nov 21, 2018 10:03am
Quoting asyurei3
{quote} That isn't valid, the right shoulder needs to be higher then the left, opposite for inverse.
who made that rule bro?
  • #61,948
  • Nov 21, 2018 10:03am Nov 21, 2018 10:03am
Quoting Techanalyst
{quote} It's good enough.
Well the problem is that there is a valid inverse Head and Shoulder on the 4 hrs chart. So I would go with the valid one.
  • #61,949
  • Nov 21, 2018 10:07am Nov 21, 2018 10:07am
Quoting asyurei3
{quote} Well the problem is that there is a valid inverse Head and Shoulder on the 4 hrs chart. So I would go with the valid one.
I went against it and made profit. Just watch how professional traders trade and you will learn.
  • #61,950
  • Nov 21, 2018 10:09am Nov 21, 2018 10:09am
Quoting asyurei3
{quote} Well the problem is that there is a valid inverse Head and Shoulder on the 4 hrs chart. So I would go with the valid one.
Yes and on the 15m. the right was 1 pip higher as well.
  • #61,951
  • Nov 21, 2018 10:09am Nov 21, 2018 10:09am
Quoting frankkie
{quote} who made that rule bro?
I don't want to take the time and explain Head and Shoulder technicals in depth. You are welcome to do more research about what a valid Head and Shoulder pattern is and what a Non-Valid Head and Shoulder pattern is. There are rules for how patterns work and how they don't, a lot of people teach just the basic patterns and not the details causing harm to a lot of people.

But just so you know and again feel free to look up valid Head and Shoulder Pattern on Youtube or elsewhere, I'm sure someone will explain it right. But basically there is one rule about shoulders and how they need to be and it is really important for the trade. The right shoulder needs to be a higher low and there are reasons for this.
  • #61,952
  • Nov 21, 2018 10:11am Nov 21, 2018 10:11am
Quoting TheLaw1
{quote} Yes and on the 15m. the right was 1 pip higher as well.
The best head and shoulder patterns are on longer time frames. Short time frames don't work out often. Even on longer time frames valid patterns fail but odds favor longer time frames better.
  • #61,953
  • Nov 21, 2018 10:12am Nov 21, 2018 10:12am
Quoting asyurei3
{quote} I don't want to take the time and explain Head and Shoulder technicals in depth. You are welcome to do more research about what a valid Head and Shoulder pattern is and what a Non-Valid Head and Shoulder pattern is. There are rules for how patterns work and how they don't, a lot of people teach just the basic patterns and not the details causing harm to a lot of people. But just so you know and again feel free to look up valid Head and Shoulder Pattern on Youtube or elsewhere, I'm sure someone will explain it right. But basically there is...
Thank you for your advice but you sound like a beginner. I will always say and repeat this:

-Market Overview
-Idea generation
-Trading Plan
-Currency Market Drivers
-Risk Management
-Day Trading Setups
-Long Term Setups
-Trend Following Setups
-Range Trading Setups
-Fundamental Analysis
-Technical Analysis
-Trading Psychology
-Technical indicators(Which one's are useful and which one's are not. They are optional).
-Metals: Gold, Silver, Platinum & Palladium|(optional if you want to trade metals).
-Crude Oil
-USDOLLAR index and other currency indexes.
  • #61,954
  • Nov 21, 2018 10:12am Nov 21, 2018 10:12am
Quoting Techanalyst
{quote} I went against it and made profit. Just watch how professional traders trade and you will learn.
Nothing against how you trade. Just mentioning it as another piece of the puzzle.

There have been good long and short trades today.

Best wishes.
  • #61,955
  • Nov 21, 2018 10:14am Nov 21, 2018 10:14am
Quoting asyurei3
{quote} Nothing against how you trade. Just mentioning it as another piece of the puzzle. There have been good long and short trades today. Best wishes.
I agree, but you have to understand that patterns don't always work as we plan it. There is much more to trading then just patterns. How long you've been trading?
  • #61,956
  • Nov 21, 2018 10:14am Nov 21, 2018 10:14am
Quoting Techanalyst
{quote} Thank you for your advice but you sound like a beginner.

I like to think of myself as a blind dumb squirrel. Just happy to find a nut when I can and happy for the others who have more nuts then me.
  • #61,957
  • Nov 21, 2018 10:15am Nov 21, 2018 10:15am
seems like that is it for today?
As Above, So Below
  • #61,958
  • Nov 21, 2018 10:18am Nov 21, 2018 10:18am
Quoting tashkent
seems like that is it for today?
you might miss the last fight
  • #61,959
  • Nov 21, 2018 10:18am Nov 21, 2018 10:18am
The SHS pattern both on Wikipedia and on baby pips has NO SUCH rule of the right shoulder being higher!
  • #61,960
  • Nov 21, 2018 10:23am Nov 21, 2018 10:23am
Quoting Techanalyst
{quote} I agree, but you have to understand that patterns don't always work as we plan it. There is much more to trading then just patterns. How long you've been trading?
I have been trading since 2004, so I have been thru a few things. I'm sure there are a lot of traders here way better and more experienced than me. I'm new to this community but think this looks like a great community of traders. I have spent more time trading futures, stocks, and options then Forex. It's all similar but I'm enjoying Forex much more as of late.

There is still so much improvement that I can make as a trader, really the room for growth as a trader is endless.
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