Hello again TView,
Although I generally stay away from stocks, this seemed to be a pretty obvious pattern.
We are just breaking through the neckline of a fair sized Inverted Head And Shoulders pattern.
This particluar Ih&s covers about a 15% move (~15.43$) , multiply by the chances of actually reaching target (71%) and we get our TP
TP: 10.95$ or ~9.5%
SL : Bottom of right shoulder (~112$)
link for accuracy percentages for the pattern : thepatternsite.com/hsb.html
**DISCLAIMER**
This pattern semi confirmed on last bar of last week, to avoid a possible busted pattern due to weekend buggery, wait for at least one full bar to close above this neckline when markets re-open.
Although I generally stay away from stocks, this seemed to be a pretty obvious pattern.
We are just breaking through the neckline of a fair sized Inverted Head And Shoulders pattern.
This particluar Ih&s covers about a 15% move (~15.43$) , multiply by the chances of actually reaching target (71%) and we get our TP
TP: 10.95$ or ~9.5%
SL : Bottom of right shoulder (~112$)
link for accuracy percentages for the pattern : thepatternsite.com/hsb.html
**DISCLAIMER**
This pattern semi confirmed on last bar of last week, to avoid a possible busted pattern due to weekend buggery, wait for at least one full bar to close above this neckline when markets re-open.
Trade closed manually:
Trade closed as it hit our "breakeven + a few pips" SL
I wil lbe moving SL to breakeven plus a few pips to maintain profits and create a risk free trade.