Hi there,
Been practice trading for about 10 months now, still not consistently profitable. Can someone tell me… is this image an inverted head and shoulders forming on the AUDNZD weekly? Or am I just imagining trade ideas as I sit here at midnight…
Trade it, and find out for yourself. If it meets youre tradingplans criteria, then definitly do it. And afterwards review youre trade find out why it was a winner/loser and what you did right and wrong.
Its really the only way you learn and grow as a trader.
happy trading, peace:57:
Hai Great Pattern analysis,
It is great For Long term. maybe you need to keep the trade for couple of months ahead.
Below is My analysis:
Volume already shows that investor coming to AUD side.
downside ABCDE elliot wave already finished. now it is time to go up but don’t know yet wheter it is just retracement or not.
If it turns out to be a head and shoulders pattern, your breakout is way too high. But also, as such patterns go the breakout tends to be rewarding, so maybe it’s worth the wait.
Have you tried to ask you IMPORTANT question - why head and shoulders pattern works in more than 50% of cases? Any logical grounds?
Its good to boast with trading terminology but risking your own money on some vague technical pattern…
Now its not surprising why 95% lose.
Cheers.