( 5 positions in progress) week6 GBPCHF h4 right Shoulder done neckline retest


From this post, the big picture shows price is doing a giant 1234 at top of ED channel.
On H4 a Head and Shoulders may be materialising.

I had previously traded well on the downflow, Now i will look to trade on the right shoulder in the coming week.

week6 gbpchf h4 rs appearing looking to early sell limit at bb 010214

GBPCHF right shoulder I am looking to enter early.
If not via a 1234 will be great as well.

updated 050214

price did not move up to form a ‘ traditional’ or pre-empted right shoulder. It is important that I keep my trading mind flexibility and not ‘expect’ price pattern to move in the way I had imagined.
It is important for me to play according to price, and be reactive, instead of being predictive.

week6 GBPCHF hns line chart completed via h1 bearish box below 4 weeks support 040214

Therefore as the big picture had already suggested topping at ED channel top,
with various reversal criteria seen,
a strong bearish day close on monday completed a head and shoulder and price closed below a 4 weeks low neckline.
This neckline was retested and seemed to form double top of sorts.
My personal feel was of jittery and uncertainty, as I had just come out of a loss from a bad trade with poor edge.
I am only confidence with the trade direction with regards to the big picture, but I constantly worry about the market timing. Will seek to improve on managing emotions.


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