Horse mounted on wall pattern. Can't ever beat it 
http://www.forexfactory.com/attachme...1&d=1295282934
http://www.forexfactory.com/attachme...1&d=1295282934
- #435,281
- May 4, 2011 10:32am May 4, 2011 10:32am
- Joined Jul 2010 | Status: Weebley Wobbly Timey Wimey stuff | 10,604 Posts
- #435,282
- May 4, 2011 10:33am May 4, 2011 10:33am
For the Special One ( Special Care One) who called me idiot and added me to iggy list when I said that the price will not hit 1.51xx today.
And for those who said that nice Gartley will not hold the brakeout - I was short from 1.4930 - to the pip. Just made about 25% of my account balance on this move.
PS. Go f.u.c.k yourself muppetmaster.
Seb
- #435,283
- May 4, 2011 10:33am May 4, 2011 10:33am
- Joined Mar 2010 | Status: aka QueenB | 4,808 Posts
The beats are seldom exactly 20 pips if measured individually but as you can see on the chart , it is not essential to get the levels right to the last pip to trade it successfully. The downside is that I can`t boast about my levels and quote them ..but hey ...it works for me
Because you only aim for 12 pips in a 20 pips beat , you have a margin on both ends of the swing as I pointed out a long time ago. You can see on the chart the trade I entered late as well as the potentially profitable trades I did not take.
Hope it helps....
BIG thanks to the both of you and Cheers!
- #435,284
- May 4, 2011 10:34am May 4, 2011 10:34am
- Joined Oct 2009 | Status: Trader | 15,211 Posts
Does it hurt to write such a BS or are you already customed?
Nothing new. Academia have discounted HnS patterns for decades with some great reports written over the years. Here is one.
The profitability of chartist trading rules on foreign exchange markets is still under debate.
Since simple technical trading rules may not adequately capture the complex phenomenon of
chartist trading, this paper focuses on the prominent head-and-shoulder pattern as a
representative trading rule which incorporates various „technical“ ideas such as smoothed
trends, trend reversal, resistance levels, and volatility clustering. For various combinations of
the building blocks of head-and-shoulder definitions the result is generally negative: Returns
to head-and-shoulder trading rules are not significantly positive - and if there is any evidence
for non-zero returns at all, then it is is evidence for negative returns.
http://www1.uni-hamburg.de/IWK/shoulder.pdf
Another one who did some good work on the subject was Brock.
But heh to each their own.
- #435,286
- May 4, 2011 10:35am May 4, 2011 10:35am
- Joined Aug 2008 | Status: Sharpen the Scalper Razor | 4,704 Posts
H&S patterns work 50% of the time.
Same as saying the price has 50% to go up and 50% to go down.
H&S is one of the most powerful pattern in higher TFs as it’s very easy to observe.
I don’t know where you folks get all this info from, incredible.
Who was the ones that vouched for you???
- #435,288
- May 4, 2011 10:38am May 4, 2011 10:38am
Horse mounted on wall pattern. Can't ever beat it
http://www.forexfactory.com/attachme...1&d=1295282934
Make it rain baby
- #435,290
- May 4, 2011 10:40am May 4, 2011 10:40am
- Joined Jul 2010 | Status: Weebley Wobbly Timey Wimey stuff | 10,604 Posts
If that would be the case H&S would NOT work as the chance is only half n’ half.
Same as saying the price has 50% to go up and 50% to go down.
H&S is one of the most powerful pattern in higher TFs as it’s very easy to observe.
I don’t know where you folks get all this info from, incredible.
Who was the ones that vouched for you???
That was my point in saying 50%. Meaning a gamble.
Like I said, it doesn't matter to me. I'll ride it whichever way she wants to go... not a big deal.
Play the supply and demand zones, not silly patterns. I do give much more credit to triangles, however those triangles are formed out of a clear reaction to the strengthening and weakening of respective supply and demand zones.
When a H&S pattern is coming to complete the right shoulder, I am usually exiting short position at that point as it is arriving into demand.
But as such, levels are made to be respected and broken.
- #435,291
- May 4, 2011 10:41am May 4, 2011 10:41am
- Joined Aug 2008 | Status: Sharpen the Scalper Razor | 4,704 Posts
- #435,292
- May 4, 2011 10:43am May 4, 2011 10:43am
- | Additional Username | Joined Aug 2010 | 1,745 Posts
- #435,293
- May 4, 2011 10:44am May 4, 2011 10:44am
- Joined Apr 2011 | Status: barefooted | 1,633 Posts
Ok guys, closing bell for me. Had a lot of fun today and learned a lot. Even earned some pips... Will add that last 'scaling in-Trade' of Cloggie to my little book and have a closer look. Just learned today how to scale out of a position, too. 
Regards,
LD
Regards,
LD
Fail better.
- #435,296
- Edited Jun 22, 2018 11:15pm May 4, 2011 10:46am | Edited Jun 22, 2018 11:15pm
- | Commercial User | Joined Feb 2011 | 2,208 Posts
- #435,300
- May 4, 2011 10:51am May 4, 2011 10:51am
- Joined Jul 2010 | Status: Trader | 1,778 Posts
Can i comment on h/s pattern .
Just for those that dont realise .
It can take many forms but basically ,its price makes a high breaks that high to push to new high,but the next attempt to move higher cant do it ,for good confirmation this attempt should be lower than the first shoulder, in simple term draw a line linking the highs and you can see the trend looks to have changed ,a break of the neck is used for entry and confirmation.
Some example that give you the level ,the horizontal line ,
But you still need the break like any other level.
Just for those that dont realise .
It can take many forms but basically ,its price makes a high breaks that high to push to new high,but the next attempt to move higher cant do it ,for good confirmation this attempt should be lower than the first shoulder, in simple term draw a line linking the highs and you can see the trend looks to have changed ,a break of the neck is used for entry and confirmation.
Some example that give you the level ,the horizontal line ,
But you still need the break like any other level.
making green pips large and red pips small this is my goal.