FX:USDJPY   U.S. Dollar/Japanese Yen
81 2 0
Just to pull back out from my H&S chart just now, those vertical lines ...

The two lows at 0.00 and 1.00 then the 3rd potential as indicated
If this is now a high then they are in reverse order h3 0.00, h2 1.00, h1 1.168 : potentially it has completed a series of 3 highs.

On the basis of these two charts I'm in short (which wasn't looking too hot while ago - hehe), no limit, stop high enough, given the trade room to breathe, very small* position - so low loss risk, high return potential, which I think is the way it should be.

*The small lot size: (if your broker allows you to set forex lot sizes) personally I prefer to set them small (like mini's), then trade multiples to the level of confidence in my analysis, estimation of probability etc.

Just to share my ponderings, I've long had this notion that the price would come out of the now famous triangle upside only to do some sort of soggy pole vault and then fall somewhere 'beyond the corner when no-one's looking'. That's my very technical evening analysis summary.
Bou_zid
3 years ago
sorry sir, i may bother you. but i dont know how to read your chart ( pardon my lack of chart knowledge) because i cannot see clearly what all those line are made for and i would love to undestand your purpose . i dont mean to be rude but it's been a moment i saw your chart and i dont get them. hope you can help me.
Reply
Hello Bou. Sometimes I don't know what all those lines are for - hehe. No really I do, I understand it can be confusing to look at on this scale. I'm very interested in the natural patterns in charts, Fibonacci & Phi (golden ratio): both being very connected. This was an experiment to see if highs and lows can be predicted by using ratios of 0.00, 1.00 and 1.618.
The most relevant to this are the series h1, L(1st), h2, L(2nd) and so on marking the highs and lows. The rest of the lines are left over from other charts. (I'm sorry but sometimes I just want to get the idea out there, and don't have the time to clean up my chart as maybe would be helpful), but I hope this of help. Your charts have made me pay more attention to the horizontal, perhaps mine can help you look at the non-horizontal. That would be a good exchange.
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