Head & Shoulders trading

Hello fellow traders!

I wonder if anyone here on FF trades based on the H&S reversal pattern?
I didn't find any threads devoted solely to chart pattern trading using this high-percentage set-up. It would be nice if people could share information here based on their experience with H&S model, so we all could learn a bit from each other.

Regards,
snu

The H&S pattern is just one pattern out of the many patterns I look at. Do I use it solely to make my trading decision? No I dont.

Well, its the one that appears on every TF in every turning point in its many variations and forms, and i think it would be wise to master it.

While Head and Shoulders are great patterns and show up everywhere, there are a ton of other patterns that show up on every timeframe as well. I trade patterns including the H&S regularly on intraday charts.

The important concept, more than just finding a head and shoulders pattern and trading that, you should look at the weight of all the evidence at that area. Head and shoulders can also be pretty strong when they fail, so you should understand all that price is doing there-- support and resistance, trendlines, momentum, ++etc

A good place to start understanding patterns like the Head and Shoulders would be to pick up a basic technical analysis book and learn abut price patterns in general.

Reverse H&S seen on H4 formed by week low so far and the previous 2 week's lows ... retrace to between 23% and 50% of current week move so far as possible dips to buy.Line in the sand @ 78% lies a few pips above the weekly pivot

edit:corrected and updated post.

Another Rev H&S on H4 ... neckline established ...