Learning Curve...

Quote from forrestang:

Trades and observations on the day.
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Nice trading today!

When it comes to that last H&S in your chart. Allways be VERY suspicious to H&S at the very bottom off the day. With this one, there was not even a minor upptrend.

At the very bottom, its probably best to look for IHS, or as you noted on your chart, H&S that fail! A failed H&S might turn out to be a pretty nice reversal pattern.
 
Quote from veggen:

Nice trading today!

When it comes to that last H&S in your chart. Allways be VERY suspicious to H&S at the very bottom off the day. With this one, there was not even a minor upptrend.

At the very bottom, its probably best to look for IHS, or as you noted on your chart, H&S that fail! A failed H&S might turn out to be a pretty nice reversal pattern.
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Aha thanks for pointing that out.

Something was weird at that time for sure. Seems like after we went into a period of chop/confusion after that last H&S before the 'sitting on hands' comment.
 
Quote from forrestang:

H&S and asym occuring at same time here.

Looking for follow through or failure of H&S, which will be breakout of triangle.
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Triangle was probably a better name for this one. I think it is the anchor channel resistance line spoiling our fun out here now, at least to the long side.
 
Here's how I played it. I exited waaaay too early.

I didn't notice the good target till after I exited.

Note to self: Pay attention to big picture at all times.

Excuse the messy chart :(
 

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