smartstep78

Head & shoulder Silver

Short
FX_IDC:XAGUSD   Silver / U.S. Dollar
Silver and gold forming head & shoulder. to trade head and shoulder pattern the key is to sell neckline right? Wrong. as you can see the neckline broken but quickly retraces and then trying to reverse. Now the best possible way to trade H&S pattern is to ride on right shoulder to get maximum profit but if you miss and the prize tries to follow the trend then take a fib level from the neckline to the head and buy or sell agaisnst the trend, I mean you are near to right shoulder to trade this pattern at 0.618 fib, you may recall those who sold the neckline are in losses by the time the prize really reverses, Head and neck patterns are reversal patterns so you ride on it until the trend changes.
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