This type of slanting H&S is not that effective like the horizontal H&S.
But it is giving indication.
Also we undetrstand the last fall happened because of Instituional investors options strategy. But market was supposed to fall that we were sure and the event just happened.
Already we had set our eye only on the downside. If we refer our previous Nifty analysis, we understand , we already on short side and are closely watching so that we protect our profit.
How to trade H & S ?
Once H &S is confirmed, the height of the head should make the target from the neck downside.
For this scenario, set the target and decide to divide it to make 3 targets. Mostly if target is big. Make T1, T2, T3
Then ? Those are our trailing stoploss. We want to make some profit always from our setup. So setting more targets and trailing ensures, we get atleast something if our setup is not going proper.
Comment
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The H&S is valid as it has moved beyond the neck line
Trade closed: target reached: The target T1 has reached.