USDCAD Potential bearish head and shoulders

2016年9月16日

On the 1H chart I have noticed a potential bearish head and shoulders pattern.
Option 1 (Riskier): Short at predicted peak of right shoulder (using appropriate SL)
Option 2 (Conservative): Short after the break of the neckline around 1.313 (using appropriate SL)
Target around 1.306 representing decent RR ratio.
Good Luck!

2016年9月16日

交易進行

Opened short position at 1.319 (predicted peak of right shoulder). Placed SL 30 pips away. Target is 1.306 for RR above 3:1.

2016年9月16日

交易結束：達到停損點

Was stopped out on this one. I did go for the better RR by predicting the peak of the right shoulder. Better strategy would have been the conservative option 2. Lesson learnt.
Interestingly EURCAD had a very similar set-up but looks more like a typical H&S which could still be in play with neckline broken.