Valid head and shoulders pattern?

consultduran 2023.01.20 15:37

At the high of the right shoulder I entered a short trade because I saw a potential head and shoulders pattern forming. I had to get out with a little profit when it reversed. Was this a valid pattern?

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Sergey Golubev 2023.01.20 15:42 #1

You can estimate it by yourself using Metatrader, for example -

VIDEO LESSON - How to Trade the Head and Shoulders Pattern - video
Reversal patterns: Testing the Head and Shoulders pattern- the article
HowTo Trade Chart Patterns - Head and Shoulders Bottom Reversal - blog post
Chart Patterns Digest for Head and Shoulders: The Theory, HowTo, Video Manuals and Book to Read - blog post
Head and Shoulders- Codebase (free) EA/robot for Metatrader 4
How To Trade - The Head and Shoulders- blog post

VIDEO LESSON - How to Trade the Head and Shoulders Pattern

www.mql5.com

A Head and Shoulders pattern is defined by one peak, followed by a higher peak, which is then followed by a lower peak, and finally a break below the support level established by the two troughs

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Fernando Carreiro 2023.01.20 15:43 #2

consultduran: At the high of the right shoulder I entered a short trade because I saw a potential head and shoulders pattern forming. I had to get out with a little profit when it reversed. Was this a valid pattern?

This website is about MetaTrader and MQL. It does not have to do with the use of other trading platforms as the one you are using.

It might be best to post on the forum of that platform instead of here.

A hedging solution for tell me what to On which MT5 platform

[Deleted] 2023.01.20 16:58 #3

consultduran:
At the high of the right shoulder I entered a short trade because I saw a potential head and shoulders pattern forming. I had to get out with a little profit when it reversed. Was this a valid pattern?

Read this to know about SL

Reversal patterns: Testing the Head and Shoulders pattern

www.mql5.com

This article is a follow-up to the previous one called "Reversal patterns: Testing the Double top/bottom pattern". Now we will have a look at another well-known reversal pattern called Head and Shoulders, compare the trading efficiency of the two patterns and make an attempt to combine them into a single trading system.

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