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Tuesday, October 1, 2019

Head and Shoulders Point of entry

I do have 4 point of entry which all must be in sequence and at least supported by each sequence

Point entry 1

Advance entry which only be true if
1. Divergent Head and shoulders or
2. head and 618 which start of right shoulder is = 35 pips or less

Point entry 2

5confirmation entry which strictly follow the rules of five
1. must be 618 retrace
2. have rejection after 618 and have opposite retest
3. rejection and retest must be 35pips or less
4 Moving average 20 and 50 cross over on 15min chart which support by MACD
5. break on the rejection point.

Point entry 3

Fractal 1hr entry this entry will only be possible
1. if it pass the 5 confirmation and
2. In between forming right shoulder and neckline

Point entry 4 Neckline

Needed 5 confirmation entry however the trade size must depend on how high the right shoulder if not posible then use 15min fractal which the second fractal will be the stop lost and equivalent to 35 Pips

1hr candle or preferible 4hrs candle must cross neckline to continue to trade to 127 or 161 fibo.



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