|
HEAD & SHOULDERS PRICE PATTERN
[back to Head and Shoulder]
This chart has an interesting story.
The top of the skinny head is me. I mean I was trading on Sunday and I was
short and I moved my stop (why?) to where you see price spiked. It spiked there
as soon as I put my stop there. Why there? I was playing with the
software LOL. Well It got me for sure.
The rest of the story. The following evening, last night. Market opens and I
am looking at the spike I made thinking price would never have gone there
perhaps except for me. (inside trading?)
I see 2 things a skinny funny head and shoulder and/or if I forget the spike
a double top and I have a
projection method for both and if I forget the spike there is a 3rd touch to the
trendline.
Result I go short and hang on for the ride down. That's creating a
trade for sure. Every lose has its reason. That spike resulted in my favor after
all.
|
miracles,
they are everywhere.............. 