Head and shoulders

[deanplake]

done alright so far this week, saw the top of the head yesterday and sold in, got the dip too!

And bought in again, looks like it could be a reverse head and shoulders, but is that just a continuation of the shoulder and i got lucky?

OOPs sorry, 15 min chart, gbp/usd

 

[dsmodi]

which market u talking abt matey?

 

[kevinmcm]

done alright so far this week, saw the top of the head yesterday and sold in, got the dip too!

And bought in again, looks like it could be a reverse head and shoulders, but is that just a continuation of the shoulder and i got lucky?

OOPs sorry, 15 min chart, gbp/usd

How did you know it was a H&S if the head had only formed? What time are you talking about?

 

[deanplake]

may be I just got lucky!

But the way i saw it, 1st shoulder 17th may @ 2.30, neck line 18th may @ 14.30, top of head 9.30 (my entry) necklne 19th may @14.15, 2nd shoulder 19th may@ 20.30 (my exit)

The one that i am now concerned with, started inverse 1st shoulder 18th may @ 21.30
neck line 19th may @ 12.15 and hopefully top of head (my entry) @ 20.30

 

[kevinmcm]

may be I just got lucky!

But the way i saw it, 1st shoulder 17th may @ 2.30, neck line 18th may @ 14.30, top of head 9.30 (my entry) necklne 19th may @14.15, 2nd shoulder 19th may@ 20.30 (my exit)

The one that i am now concerned with, started inverse 1st shoulder 18th may @ 21.30
neck line 19th may @ 12.15 and hopefully top of head (my entry) @ 20.30

Cant see it Dean, not that it matters if you made on your trade thats what counts. Not sure you are interpreting it correctly though. If I am reading you correctly, you saw the start of an inv H&S while the H&S was still completing its head? Its neither here nor there but if you can be bothered stick up a chart, might be something we can both learn here.

Kevin.

 

[A Dashing Blade]

Squint and I can just about see a left shoulder but see what you mean . . . .

Using Bloomberg, I'd have said it was (all times GMT+1 and levels rounded)

Left shoulder 10.30 18 May @ 126.10
Top of the head accross 18/19 May @ 126.90
Right shoulder (ignoring 17.00 spike) 15.30 19 May @ 126.15

Break 12.15 20 May @ 126.20

Target 125.40

 

[A Dashing Blade]

Low of 125.36 made @ 16.20 . . . .

 

[kevinmcm]

Low of 125.36 made @ 16.20 . . . .

You are talking about €/$. The original post was regarding £/$. I have to use a lot of imagination to call either charts for the period a H&S


Kevin.