Hi, im staring with forex i started trading in real a few days ago, i have a doubt about the chart patterns and any system basically…
What should i do if i recognize a chart patterrn ( lets say head and shoulders )
and when the price its on the the last shoulder i know thats its going to fall, but i dont get that signal from my system ?
Should i trust my reading about the pattern or just wait for the signal?
PS: hope you understood my english
if you are using a system then i suggest stick to your system if you find you are not trading enough then i humbly suggest you need to find another system because once you start trading without your systems signals then it is no longer your system. Some people need boundaries in which to trade in. If you don’t need boundaries then I suggest if you trade without your system’s signals to use very little amount of money till you are confident you know what you are doing.
btw a head and shoulders is a reversal pattern so when you see this it means price may reverse direction.
thanks, john