ExitStrategist
Short

$NZDUSD Bearish Head & Shoulders

FX:NZDUSD   New Zealand Dollar/U.S. Dollar
50 2 0
-Neutral slope to neckline
-Strong Pinbar rejection forming RS            
-NFP + Strong DXY             = Dollar boost
dojitrader
3 years ago
Looks to me like you're playing with fire ! A H & S pattern is not complete until it "breaks below and closes below" the neckline. Until it does that it is not a valid pattern. Plus, to sell when it only touches the neckline is much to aggressive
an assumption. Finally any trade that is less than 1 to 1 R/R ratio is a formula for doom Experience and testing have shown
--- me anyway --- that the best way to play this is a solid break and then a retest of the neckline for the sell trigger. Once in a while you might miss a trade but, you'll be spared a lot of grief not trading a pattern before it's hatched.
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ExitStrategist
3 years ago
Thanks for the heads up doji. I actually got in on the D1 Pinbar formed WED. I was just having an internal debate as to whether or not I should let it run awaiting the break, or just book it all for profit right now.
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