As soon as I looked up "head and shoulders pattern forex". I seen that Rayner created a video on the topic. I clicked this video so fast. There are only some reliable Forex educators on RU-vid. Rayner Teo is one of them!
Just wonderful, I have been researching "japanese candlestick reversal patterns" for a while now, and I think this has helped. Ever heard of - Banackenzie Aristocratic Builder - (search on google ) ? It is a great one off product for discovering how to conquer options trading without the headache. Ive heard some interesting things about it and my colleague got great success with it.
I wonder how much money this guy makes trading. It would actually encourage me to listen knowing because so many youtubers seem to be marketing trading without backing it up with any proof of if their strategies or if even human technical analysis even works.
Nice video. Good points on H&S. Boss, also publish an e-book pdf for your fans, ULTIMATE H&S VARIATIONS with 100 to 200 diagrams. Include the effect of neckline slanting up/down/straight, volume behaviour, bull/bear market, RSI %, Divergence, pattern FAILURES, Ema 20/50 curves intersections and distance from candle, angle of the Ema curves, how to deduct failures, where to expect buildup, what to do if it is a runaway breakdown, and other practical tips. Ensure it is ULTIMATE guide to H&S. 80% diagrams and only one para explanations to some of them. This is what your fans want.
Hey Rayner! Great video! I just have a suggestion, so could you provide specific examples for the 10min and 15min timeframe as the price behaves differently in the lower timeframes than the higher ones? Thanks!
Using a 3 to 5 time frame entry. Daily and H4 e.g. you can spot H&S pattern on daily time frame, then go to the lower tf H4, (in context to relevant market structure) and also go short.
Hey reyner big fan or anyone that may see this, idk the probabilities of you answering this since it was posted a considerable amount of time ago but i had a few questions in mind. 1. Is it possible to trade a false break out technique (in this instance a false reversal)given if it was a strong trend and a weak chart pattern in order to benefit from traders betting a trend reversal? 2. is there any way you can determine the strength of the chart pattern in correlation to the trend in order to increase the possibility of the chart pattern working? Thank you in advance
Hi Paolo even I have this question,I can see you ask this 9 month ago and till now you I think you know how to draw a neckline,if you know can you please tell me..
You say not to short just because you see a head and shoulders pattern but you don't say when we can we use the pattern, you just say context matters. It's confusing.
What a great explanation my fren! I got 2 questions that i think is really interesting to use this pattern: 1. Can i use on a lower timeframe than D1? 2. If small head and shoulders patterns have a high probability to be false signs, what if i buy on the neckline of the second small shoulder?
yes you can use lower time frame but the higher timeframes hold more power than lower ones (they stick to patterns better. lower sometimes do weird things).
Haha, I love the brain-stutter when the line goes back in time :D :D Also, love your content. I still suck, but also not risking my real money yet either..
Regardless of how you structure it, stock market minimum R-multiple will occasionally be the deciding factor of whether you need to wait for a retest or not. The illustration shows this idea in more detail like Lukasz Wilhelm's laws on stock market trading Ebook. The illustration shows a comparison of two markets that have recently broken key resistance but exhibit vastly different day-to-day movement.
Hi, great vid and explanation. Basically as a trader you are either a 'long' or a 'short' trader. Hearing you talk and the type of example you give, you seem a short trader. Am i right? Just wondering coz all the examples of where to put stop losses come to me as short orders. Thank you.
Hello Rayner. To download the Price action book I went to the steps you have mentioned in your site. But i could not get the download link at the end. Can you please guide me. Thank you so much Regards
Look hours, or days, earlier! The line from Head to Neckline should be placed on first bar of direction it was on hours or days.. Don't use Head and Shoulders so close at actual price, it doesn't work, look back!
