Head and shoulder
A short position to be taken and covered according to areas marked based in trend based fib levels
Trade closed: target reached
short coveredNote
Trade reentered after confirming the PRZ...This time in long position...
Trade closed: target reached
ABC fibonacci retracement change to the new bottom, instead of the ABC of the AB=CD pattern... 0.382 level changed and take profit entry changed ....Long closed
Trade active
same chart post head and shoulder....Trade reopened as i fell the head and shoulder effect has bottomed out...
The long entry has been done 0.886 level keeping a very close stoploss at ab=cd level...
lets see hoe it plays out..
Trade active
should have squared off at 0.618AB!Trade active
i guess 0.618 has become a stalemate level.... will square of if good vol breakdown happens below this level..Trade closed: target reached
Trade active
same chart...trade reopened in bracket orderWith current entry tp and sl specifications at the back of a bullish AB=CD
Trade closed manually
bracket order abandoned..bullishAB=CD pattern failed to establish after abc retracement didnt work in bearish favor...
Trade active
same chart...reorganized the AB=CD , bracket order placed again...
Trade active
Short order executed...Another head and shoulder?
Cover order re adjusted
Trade active
most probably conviction is right, another head and shoulder in formation, still right shoulder yet to go!cover order maintained after readjustment from 0.618AB to 0.886AB
Trade active
stoploss revised to B point of AB=CDMore short positions added
Volumes degenerating
This is a confirmed head and shoulder..
Feeling excited! bit of high risk taken
Note
sorry correction, stoploss revised to C point of abcdNote
have been typing wrong with all the excitement..Sl revised to A point and more shorts added to C point of abcd
Note
failed head and shoulder...!Trade closed: stop reached
made a basic mistake, didnt catch the divergence well, the moment the divergence happened, the price got caught in a symmetrical triangle , which broke out !Lesson learnt..
Note
here is that symmetrical triangle post divergence..!
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.