HEAD AND SHOULDER UPDATE

Hello traders, this is an update on an idea published earlier this week. Price got rejected at previous support and we assumed the possibility of a head and shoulder pattern developing. We monitored price action at the right shoulder where we look for signs of rejection for the reversal to take 4 buy position. Our first position was 50 pips and the rest increased by 50. Target 1 for 50 pips, target 2 for 100, target 3 for 150 and awaiting our final for 200. If successful, we will accumulate 500 pips here. We have gotten 3 targets and now hoping for the 4th risk free. This pattern gave us a successful trade and I am happy I was able to share the idea for educational purposes. Have a plan, have a strategy, analize, be patient and execute. Traders should not predict the market but react from it.

Trade smart, don’t gamble!