LewisGlasgow
Short

USD/NOK - Head and Shoulders

FX:USDNOK   U.S. Dollar/Norwegian Krone
Recap on the analysis I provided for my students previously this week. Here we have a head and shoulders setup on a Daily chart for USD/NOK             , this pattern also took shape on the Weekly chart. This is a very simple selling opportunity, easy to spot and amazing risk:reward.
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Love this setup as it is so easy to spot, thanks again!
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LewisGlasgow TOP Technical15
Indeed :) you're very welcome, I appreciate the support thank you.
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Although it is an easy-to-spot formation, most traders fail to trade it properly. I haven't seen a valid head-and-shoulders posted here for a while. Now this is what I have:
snapshot


I think it would be best to wait to see the congestion, and then enter on the short side.
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Csys Csys
Also, I have my stop-sell at the close of the break-away day in case there will be no congestion.
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Nicely detailed trend lines.. I totally agree with you on that part, many traders are too eager to enter a position as soon as they see the pattern occur.
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I am in now. Good luck to the bears.
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Entry price? Nice one man
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Csys LewisGlasgow
I took on the short side at 842.3 with a stop around 860.
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All the best, the pair is looking good so far. I'll be looking for an entry shortly!
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is the trade invalidated.??.i have shorted should is still hold on???
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LewisGlasgow TOP Akshath1994
Trade is still valid, the pair is still making lower highs/lows. Analyse the lower time frames for view on short term price movement!
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Akshath1994 PRO LewisGlasgow
levels of 8.00 can be seen in the coming weeks..could be sooner too??
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It seems we are in the money at the moment. Good luck for the rest of the trade to anyone in! Fight with your emotions, don't close the trade too early : )
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