H&S in 15min on WTI

FX:USOIL   CFDs on Crude Oil (WTI)
228 4 1
1st Target around 42
2nd target 40

*CRUDE OIL             INVENTORIES ROSE 4.67 MLN             BARRELS, EIA             SAYS

More than expected
now what?
magnans wayne7
Now nothing.. Time to pass on something else, did not work... (was a 15min chart, so if it does not work on the next two hours... not good..)
curious how you determined your targets?
magnans Market_Masta
Usually I take the distance from top of the head to the neck line. Then I report it and take the same distance from the neck line to the target. I was a bit lazy on this one.. :)
My confirmation point was the neck line then, if it stay below I move my stop loss just above the neck line.
I always try to have a Risk/Ratio > 2.

However this was a lose trade... :)
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