USD/CAD LESSON
Hello fellow traders! I would just like to take a second of your time to show you this head and shoulders formation. If you are playing these formations, it is imperative that you don't get emotional and only go by facts in the chart. A textbook h&s pattern took place, but it is only confirmed if the bottom of the neckline breaks, this is the area you enter a short position. In this instance, however, you could have leveraged more of your position as the asset rose and confirmed the RESISTANCE of this zone.
This is for educational purposes ONLY.
Good luck everyone!
This is for educational purposes ONLY.
Good luck everyone!
Note
I apologize for the small words, that jump was to trick most people into going into a long position. BUT it CONFIRMED the resistance on that level.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.