A picture is often worth a thousand words - and this Head & Shoulders pattern looks pretty clear to me.
For technicians, sometimes this is all the picture you need to act on a trade.
There is always a chance for a fake-out like what happened last time a potential H&S earlier this year (as labeled on the chart), but that is trading.
Risk 3 average daily trading ranges (11-day average). Reward = target zone labeled.
Cheers.
Tim West
9/23/2013 10:01AM EST
For technicians, sometimes this is all the picture you need to act on a trade.
There is always a chance for a fake-out like what happened last time a potential H&S earlier this year (as labeled on the chart), but that is trading.
Risk 3 average daily trading ranges (11-day average). Reward = target zone labeled.
Cheers.
Tim West
9/23/2013 10:01AM EST
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