CADCHF, Short on Broken Trendline and broken H&S neckline

The H&S pattern is complete and its neckline has been broken.
Price action is attempting to complete a retest of the blue trendline so this is a low risk entry point

Short for 150+ pips

This head and shoulders also resides within a potentially large H&S that may be completing. Therefore if this trade is successful, I will continue shorting until the neckline of the bigger H&S. See image

Trade stängt: Stopp nått:

Stop Loss reached. However I still believe this is a good shorting trade

Kommentera:

anyone looking to get into this short, now is a good time to jump in as it has retraced!

Kommentera:

trade went down beautifully. I need more confidence and slightly wider SLs