H&S Trade Diary: 1-3

May 9, 2016

Image: Scoreboard Handball ++

H&S Trade Diary: 1-3
Losing streak continues with stop hit on AUDUSD: -2.01% / 40 Pips

This pattern was relatively clean, but end result was no better than our previous two trades:

H&S Trade 4

When I spotted this pattern on the 30m chart, the break had already occurred – pair appeared to be falling quite fast and I calculated size and entered short right away:


Momentum evaporated all most instantly and price snapped back, nearly taking out our .7669 stop. We were spared this time around, but pair ended up reversing completely and stop was hit later that afternoon.

Points Of Interest:
There was actually nothing wrong with this pattern or the trade execution, it was quite simply a false/bad signal. Having said that, the flaws of running a sell-side only strategy in a risk on market are becoming apparent.

Score Board:
OG H&S: 1
Market: 3

Four trades down and the score’s 1-3 … can’t help but look back wistfully at our first Yuan trade.


Oscar Goullet – @FXtechs

Risk Disclosure: In addition to the website disclaimer below, the material on this page prepared by Australian Forex broker Vantage FX Pty Ltd does not contain a record of our prices or solicitation to trade. All opinions, news, research, prices or other information is provided as general news and marketing communication – not as investment advice. Consequently any person acting on a Forex live account it does so entirely at their own risk. The experts writers express their personal opinions and will not assume any responsibility whatsoever for the actions of the reader. We always aim for maximum accuracy and timeliness, and Vantage FX on the MT4 platform, shall not be liable for any loss or damage, consequential or otherwise, which may arise from the use or reliance on this service and its content, inaccurate information or typos. No representation is being made that any results discussed within the report will be achieved, and past performance is not indicative of future performance.


Free Daily Market Update

Live Spreads



Sign up to the latest forex news and daily FX trading setups

Get started with a FREE $50,000 demo account