Multi-touch Ih&s Reversal On NAS100 4HR
Updated
The nas100 has just broken the neckline on an inverted head and shoulders pattern.
After MULTIPLE attempts at the neckline, it seems to have finally broken through, and confirmed with multiple closes beyond our neckline.
Our textbooks say the pattern should give us an 805$ move * 0.71% chance of reaching target, meaning ...
TP: ~12125$
SL: ~11220$
Which puts our R/R around 1.76
Happy Trading.
Accuracy percentages for patterns aquired here: thepatternsite.com/hsb.html
After MULTIPLE attempts at the neckline, it seems to have finally broken through, and confirmed with multiple closes beyond our neckline.
Our textbooks say the pattern should give us an 805$ move * 0.71% chance of reaching target, meaning ...
TP: ~12125$
SL: ~11220$
Which puts our R/R around 1.76
Happy Trading.
Accuracy percentages for patterns aquired here: thepatternsite.com/hsb.html
Note
Playing out nicely and nearing our TP.Remember to book profits, and move SL to breakeven when your trading plan allows it.
Trade closed: target reached
Target reached!
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.