GBPJPY Heads&Shoulders [SHORT]
Updated
GBPJPYSo Tntsunrise spotted this on 6 Aug and made a publication 'bout this earlier last month wich I'll add on the related ideas. The thing is, I've happened to see lot of times these goodbye kiss. Since one of the first patterns you learn are the Heads & Shoulders lots of the time now a days we see the pattern on the right shoulder and we tend to take it from there #nodisipline and take profit right on the neck. Well since more and more and more people keep doing that, a pattern has started to form. I call it The Goodbye Kiss (well lots of other person call it like that, I just happened to pick it up from a JPmorgan trader last year).
The thing is sometimes that develop in a triangle pattern so one has to be careful, still is most certain that price will return to the neck and we can take advantage of that. Also from there might develop the Head & shoulder pattern like normally and go straight to hell... But also it can turn into a triangle wich is also easy to trade.
Trade active
So I came back to my forex account to see that my trade has been done perfectly I moved my stop to profit and beside the swap commission from keeping the short open for more than a week. I got a pretty chunk of profit here. I am thinking of making a trailing stop because I want to keep my trade if it break the neck but if it doesn't break the neck then I want to inmidiatly take my profit. Still I'm going to keep tabs on this trade for the rest of the week and see how it develop instead of what I did last week of just forgetting 'bout it. #SHORT
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