A nice pack of SHSs seen yesterday on CADJPY M5 and M1. If you have seen it but the Double Top or a distribution channel, where price rotated between ceiling and bottom it is absolutely ok. Important is that you know how to trade your favorite reversal pattern(s). A guy told me he trades only perfect SHSs like out of an education book. The point is that too perfect patterns are identified by too many traders and these patterns don't really run. On this chart isn't one perfect SHS, they all are strange, mutants with three heads or whatever or the neckline flips to the wrong side (the second one on M5), BUT they all ran and this partly very well.
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Re: How good are Reversal Chart Patterns?
Krelian99, Fri Mar 23, 2018 8:02 pm
A nice pack of SHSs seen yesterday on CADJPY M5 and M1. If you have seen it but the Double Top or a distribution channel, where price rotated between ceiling and bottom it is absolutely ok. Important is that you know how to trade your favorite reversal pattern(s). A guy told me he trades only perfect SHSs like out of an education book. The point is that too perfect patterns are identified by too many traders and these patterns don't really run. On this chart isn't one perfect SHS, they all are strange, mutants with three heads or whatever or the neckline flips to the wrong side (the second one on M5), BUT they all ran and this partly very well.
