I have done the Heavy-lifting for YOU! CHF-JPY: H&S's Sell

10 sept. 2024

https://www.tradingview.com/x/URIXIRM6/

Hi guys,

I have done all the heavy-lifting & planning for you on this one.

It may be as simple as hitting the 'sell-button'.

It's a Daily-chart pattern which will hold more weight,

Price has almost retraced to the neck-line,

Hop to it, take a look,

Thanks for reading.

10 sept. 2024

Note

How to approach a Sell 'head 'n' shoulders'?
1. It's better to be patient & let price retrace to the neckline. It usually does & once this occurs the pattern will have more reliability of actually playing out to the downside.
2. Once price has returned to the neckline, switch to a much lower time-frame & wait for price to stabilise/accumulate & a Bearish-Sell-Candle must form & complete. For eg. bearish engulfer or bearish pin-bar (even better).
3. Make sure your Stop-loss was entered in your bracket-order for important risk management. Initially, this could be a slightly loose stop.
4. Switch to a 10 second time-frame to ensure that price is starting to 'swarm-downwards'
5. Tighten your Stop-loss to underneath the Candle you sold from. Or leave your SL under the Right-shoulder.
6. PT? It varies. Technically, it's the same % from the neck to the head of pattern you are trading.

* This is how I trade them. Not to be taken as financial advice
Chris

10 sept. 2024

Note

Recent 3m chart

10 sept. 2024

Ordre annulé

I am seeing demand shifting to buying the swiss chf.