Some head and shoulders patterns are better than others
Head and shoulders patterns are a form of reversal chart patterns. They are high probability setups and have clear distinct features which traders can recognise straight away. Apart from lesson-perfect patterns we see in training material, there are variations observed in real price action. Some are simply better than others and again there are those that are just a case of mistaken identity.
Since traders want to catch a reversal at the right shoulder which is most profitable rather than wait to confirmation at neckline, jumping the right pattern is a must.
Inviting our community of students to participate in the quiz
I am inviting students to participate by logging in to comment. In this relatively straight forward quiz, three(3) qualifying participants# (to be decided by me based on clarity and correctness of answer) will receive one(1) voucher worth $40/- each to attend 4M or BP class.
Qualifying participants are those who have attended the TerraSeeds Forex Tflow® Currency Trading Course.
Question: Which head and shoulders pattern is better? One with a higher armpit (A) or lower armpit (B)?
Unless extended, this quiz will close at 12 noon Singapore time tomorrow 13 June 2013.
And for those who are curious, this is the previous quiz run in May ‘Cannot make money with forex trading: bad strategy or trader’s fault‘
Director, TerraSeeds Market Technician Pte Ltd. Trader, investor. @sohtionghum was picked ‘Top 70 Forex Twitter in 2015’. Operates multiple strategies.
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