USDCHF Short

Nov 6, 2018

- nice head and shoulders pattern on 1H USDCHF with broken neckline
- highest volume on the left shoulder and lowest on the right shoulder confirmed H&S pattern
- waiting for pullback and open short around 1.00375

Nov 6, 2018

Note

- neckline pullback reached
- opened short position at 1.00382
- stop loss placed just above right shoulder 1.00540
- take profit at 0.99988 but there is also forming H&S pattern on 4H so it is quite possible that price will go lower

Nov 7, 2018

Trade active

- price reached target price 0.99988


- but there is also H&S pattern on 4H with broken neckline and successful pullback (right shoulder on 4H is H&S pattern on 1H) so I let my position open with new target price 0.99200

Nov 9, 2018

Trade closed: stop reached

- price didnt meet my target, price reached only around 0.995
- price move back above neckline and reached stop loss right above right shoulder
- next time must be target more conservative :-)