HEAD AND SHOULDERS ARE USUALLY REVERSAL PATTERNS BUT THERE ARE INSTANCES WHEN THEY SHOW UP AS CONTINUATION PATTERNS, I LOOK AT IT AS MALE AND FEMALE GENITALS INSTEAD OF HEAD AND SHOULDER, TO ME IT MAKES MORE SENSE. BEFORE YOU SAY THAT GUY HAS A DIRTY MIND HEAR ME OUT. WOMEN ARE OFTEN PEACEFUL AND USUALLY LIKES TO PROMOTE PEACE CONTINUITY, AND LONGEVITY, WHILE US MEN ALWAYS WANT TO DISRUPT, AND DESTROY WITH OUR MACHO MALE EGO. THAT'S ONE WAY I LOOK AT IT NOW ABOUT THE PATTERN, LOOK AT IT CAREFULLY IT LOOKS LIKE A VAGINA WITH BOTH LABIA MAJORS WHILE IF IT WAS THE OPPOSITE DIRECTION IT WOULD LOOK LIKE A COCK AND BALLS. SO HOW I LOOK AT IT, IF I'M IN A POSITION AND I SEE THIS "PATTERN" I STAY IN (PUN INTENDED), BUT IF I SEE THE OTHER GUY, I FOLD AND EXIT .(I DON'T GET DOWN LIKE THAT) SO IF YOU ARE ALREADY IN A SHORT POSITION, THIS IS REASON TO STAY IN AND ENJOY THE JOURNEY WHILE SHE GOES DOWN. IF YOU ARE NOT, THERE'S NO BETTER TIME TO GET IN. I'D PLAYING IT SAFE AND WAIT FOR A PULL BACK TO RETEST 1.2495 BEFORE GETTING IN. NOW HERE'S THE FUNNY PART, LET'S SEE WHO ARE THE QUICK POPPERS AND WHO ARE THE JOURNEYMAN, DON'T COME OUT TOO EARLY, SHE WILL GIVE IT TO SOMEONE ELSE :). THIS CHART IS SOLELY TECHNICAL AND HAS NO FUNDAMENTAL AWARENESS. STOP LOSS IS NECESSARY FOR LEVERAGE ACCOUNTS, SET YOUR OWN STOP LOSS, I ONLY FOCUS ON THE TARGET. ALL THE BEST WITH YOUR TRADES CHEERS!
This was out there but I see where you are coming from. I am waiting for the retracement as well to the 1.24689 and then go short or so. My stop will be just above 1.24825; I'm looking for market manipulation for the big boys to clear out some stops.
any thoughts?
DayFarrell
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Sorry for the late response, and I understood what you meant by big boy clearing stops. I account for this by setting a wide stop loss and aim for less profit. However, I've been short on this pair for a while doing a swing. I just thought it was a nice trade opportunity. :)
Remus
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Stopped in off my lunch break and noticed i made out good and your projection was spot on. I entered at 1.24826, TP was 1.24534 (30 pips). Could have gotten 15-20 more but that is when you start losing.
Great interpretation of the market!
DayFarrell
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So technically you are the first early popper, lol, just playing, that's ok man, maybe it's your trade style congrats on the gain
Olu
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I see what you are saying but o my God what a way to put it
DayFarrell
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Lol you are right, what a way to put it. I don't know why I'm seeing genitals on the currency market
any thoughts?