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 covered

Comment:

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 order

With 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=CD
More short positions added
Volumes degenerating
This is a confirmed head and shoulder..
Feeling excited! bit of high risk taken

Comment:

sorry correction, stoploss revised to C point of abcd

Comment:

have been typing wrong with all the excitement..

Sl revised to A point and more shorts added to C point of abcd

Comment:

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..

Comment:

here is that symmetrical triangle post divergence..!