Head and shoulder one hour chart detected?

Hello,

seems to be a " head and shoulder" formation very soon… :thinking:

Ooh good call! Did you trade this one? :slight_smile:

Unfortunately not, i was just loud thinking… :slightly_smiling_face:

But i was right - ok, i wouldnt win a price in a beauty-competition with this chart here, but in general happened what i expected:

Maybe you should post here more and I’ll take the trades for you instead :laughing:

Good idea - i am sure in your country are lower tax rates than in mine, i tell you what to trade end you send me the profit minus a premium for you with private bank transfer… :wink:

What about this?
It seems that EUR/USD is waiting on a support zone for something- well, it looks like EUR is falling, on the other side on all important timeframes Stoch and RSI are quite low, so they signal it could also go up:



Not to forget the EURO Meeting tomorrow and the Pound data tomorrow morning. In this situation i would tell you to go long and short, to participate in one of the two… :fox_face:

This one hasn’t quite moved yet. :thinking: Also, I don’t usually place trades on a Friday :see_no_evil: I just hate having to think about open trades over the weekend lol

Head and shoulders pattern not work always when we tested price patterns it worked 50/50 and showed more random walk rather was more than 50% in winning trades… Best way if u add more factors into the trading and test ur idea before put money into it.

Thx Win-Algo!

Thats interesting , cause many studies rate head/shoiulder or double tops at accuracy around 70-80% - but I personally don’t follow them anyway, it just jumped onto my eyes.

Oh yes. You were right. Was it your knowledge or just a prediction that proved to be correct? I am just curious to know.

You were perfectly right. I am sorry that you did not make trade in the beginning of the formation. I also trade following these large formations as head and shoulders, double top or double bottom. They are relatively easy to be spotted on the chart

it’s not so difficult to spot those formations - just follow the rules how they should look like, and switch between the time franes, sometimes they are really so obvious that you can’t oversee them…

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