USDCAD Head and Shoulders 4 Hour Chart
This is a great example of a head and shoulders pattern and i plan to go short for a long term trend on this one! Since i trade 4 hour charts I'm going to be patient. I have seen these patterns go in the other direction before but so far they are the most accurate and predicting trends. When i had the 200 EMA on the chart the tail of the shoulder was touching it showing that it's a key resistance. I set my Limit order just below it and now i just got to be patient :)
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.