First TP should be available in a long position and the Risk and Rewards Ratio of around 5
Head and shoulder as the book says is a reversal pattern and it is a fact . The question here is ,is this a valid case study of such ?
Here is a classic short position in form of a long signal on a mirror chart .
Here is another mirror analysis for USDCHF in form of 1/USDCHF chart . RRRatio of this long position is more than 10 thanks to a pandemic depression among herd of bulls . A long trend in any mirror asset equals to a short position in its related trading tool .
In continuation to previous short signal now it's time for the long position according 5o the exact RRRatio in the chart .
This is a common long setup for a major trading tool , NZDUSD . RRRatio of this trade is between 14 to 16 .
Here is a more clear fib ret analysis along a fib time zone for further cycle clarification of the chart .
A Bullish Flag Harmonic Pattern has been formed on AUDUSD H1 Chart . This can be a grren light for a long position .
Chart suggests a long position on the mid term H4 time frame
Thanks to our eagle eye here we can spot a nice entry point for a GBPUSD short position . This is a reversed chart so a long here is a short in there !
AUDJPY long position is the one you should be thinking about now
USDCAD long according to the chart with a risk reqwards ratio of above 7 -8
the Ratio for this trade is above 6 . TP here shouolod be considered as 1st tp
Bitcoin long is a position everybody is talking about these days but can you do the same in lower time frames and scalp ?
A Risk Reward Ratio of over 4 is more than convincing in taking this short position as per chart and other technical indicators/oscillators suggest
Here is a textbook example of Reversed Head and Shoulders .
Here we have a reversed chart of the major currency pair KIWI ! As you can see clearly the daily pump is holding on to the blue support line which happens to be SMA50 . This can strongly indicates a BOS AKA a Break Of Structure .