claydoctor
Short

CL1! - oil, very similar left and forming right shoulder

NYMEX:CL1!   Light Crude Oil Futures
73 7 1
see chart, this has a very good chance of playing out as shown. Bottom for oil             , 36 anyone?
From what I've learned head and shoulders (like you draw) usually appears at top not at bottom, and most of the time it goes down after formation is completed see here http://thepatternsite.com/hst.html
Reply
Yes I was not trading this pattern, just following it, and was searching for a pattern definition just this morning also, inconclusive, and could not find any HS at a market bottom or at a bear run trend. And inverted HS yes, but not regular HAS at bear market trend conclusion, or other. IF ANYONE HAS FOUND SUCH A PATTERN EXAMPLE, PLEASE POST IT.
Reply
andberg claydoctor
I'm also searching and the nearest would be triple bottom http://thepatternsite.com/tb.html but didn't respect all guidelines. Some trader find that there is a flag or pennant. Some also see pitchforks and harmonic pattern. See how the price is trapped in there. here is my set up
Reply
There is one rule that applies for head and shoulders. Whatever direction you enter an HS, you exit opposite. Downtrend into the HS here, uptrend out of it after the right shoulder connects to the neckline. Gold is forming similar now right shoulder, and has an increasing neckline. I like the cypher in green here . If you look closely the left shoulder and head had similar cyphers within them. I think this pattern is very reliable, and I will be going long OIL as we slide a bit further down the right shoulder. Be careful though, it may not complete the the neckline levels, and worst of all, it may overshoot it, so if you are trying to time and entry for best performance here be careful. Plenty of time to catch this rise, and it should be a strong one.
Reply
andberg claydoctor
thank you
Reply
All commodities could follow, and Gold may wind up leading them all. Yellen need inflation like yesterday, and this may be the only way to do it.
Reply
Sachinsyd claydoctor
mayb but with weakness marking USD in the earnest chances r getting slim
Reply
EN English
EN English (UK)
EN English (IN)
DE Deutsch
FR Français
ES Español
IT Italiano
PL Polski
SV Svenska
TR Türkçe
RU Русский
PT Português
ID Bahasa Indonesia
MS Bahasa Melayu
TH ภาษาไทย
VI Tiếng Việt
JA 日本語
KO 한국어
ZH 简体中文
ZH 繁體中文
AR العربية
Home Stock Screener Forex Signal Finder Cryptocurrency Signal Finder Economic Calendar How It Works Chart Features House Rules Moderators Website & Broker Solutions Widgets Stock Charting Library Feature Request Blog & News FAQ Help & Wiki Twitter
Profile Profile Settings Account and Billing My Support Tickets Contact Support Ideas Published Followers Following Private Messages Chat Sign Out