H&S Trade Diary: Score Bremains 1-4 After Breakeven Trail | Vantage FX

H&S Trade Diary: Score Bremains 1-4 After Breakeven Trail

June 9, 2016

Image: wikipedia

H&S Trade Diary: 1-4
Another trade down, but the score’s static after our breakeven (+2) trail was triggered on GBPUSD: +0.07% / 2 Pips

This pattern had a deformed left shoulder and ascending neckline, but at least it wasn’t a loser:

H&S Trade 6

Neckline broke with the bar close again so no need to drill down – shorted right away at 1.4492. Pair chopped back and forth a bit before hitting our 1:1 breakeven level over night. Moved stop to breakeven +2 the next day and was trailed out shortly thereafter. Pair would have hit our target eventually, but not before spiking into our stop … so loss was avoided on this one, courtesy of the breakeven trail.

Points Of Interest:
Pair did move 40 pips in our favour allowing us to lock in breakeven +2 – perhaps a more aggressive trailing system would produce better results?

Score Board:
OG H&S: 1
Market: 4

6 trades down and the score’s still 1-4 … stay tuned for more.


Oscar Goullet – @FXtechs

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