A head and shoulders (H&S) pattern is shown on this time frame. The right shoulder - not formed properly as yet - appears to be exhausting at this time. Price is struggling to stay afloat. This predicts nothing. The position is one to watch for those trading on lower time frames. Higher time frame perspectives are a must. This perspective is looking well ahead. So I'm setting alerts for when price gets near a possible base of right shoulder. It may never get there. But getting ready is everything.
For new and seasoned traders: it's possible to draw H&S patterns how ever you want. It is rare to find a very neat H&S. I think these patterns should not be used in a predictive way. It is about understanding where you are in the markets, and taking calculated affordable losses (aka stop-losses). Losses are an inevitable part of trading, and the biggest issue affecting profitability.
Stay safe. Wash your hands. Keep a clean keyboard. Wear a good mask. 😃👳♂️ Treat the markets like a dangerous virus that wants to grab your money! 🤣🤦♂️😄
Disclaimers: This is not advice or encouragement to trade securities. Chart positions shown are not suggestions. No predictions and no guarantees supplied or implied. Heavy losses can be expected. Any previous advantageous performance shown in other scenarios, is not indicative of future performance. If you make decisions based on opinion expressed here or on my profile and you lose your money, kindly sue yourself.
For new and seasoned traders: it's possible to draw H&S patterns how ever you want. It is rare to find a very neat H&S. I think these patterns should not be used in a predictive way. It is about understanding where you are in the markets, and taking calculated affordable losses (aka stop-losses). Losses are an inevitable part of trading, and the biggest issue affecting profitability.
Stay safe. Wash your hands. Keep a clean keyboard. Wear a good mask. 😃👳♂️ Treat the markets like a dangerous virus that wants to grab your money! 🤣🤦♂️😄
Disclaimers: This is not advice or encouragement to trade securities. Chart positions shown are not suggestions. No predictions and no guarantees supplied or implied. Heavy losses can be expected. Any previous advantageous performance shown in other scenarios, is not indicative of future performance. If you make decisions based on opinion expressed here or on my profile and you lose your money, kindly sue yourself.
Comment:
Some were ready and some were late.
Comment:
FED balance sheet 42% of GDP @ 2020-01-26. Does money have value anymore? [Different perspective on the virus youtu.be/NjTdvALChwk ]
