be your own analyst http://www.technicalanalysisbook.com
THERON
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Oscar at “futureanalysts” uses of the neckline to highest shoulder to make projections. But of course, as bilgerburg points out, it’s all an art and an odds game and how you draw the pattern. Oscar goes out on a limb and offers specific buy/sell entry/exits and calls the direction of the market with surprising accuracy, but his orientation is futures, not equities like Brian. Both are experienced day-traders and great teachers.
different styles for different people. i deal almost exclusively with spreads so id rather sell high and buy low or sell puts low and buy them high. theres a lot to be said for “the trend is your friend” — my own personal preference is not to get in on the high. at least wait for a pullback.
It does go with the “buy high, sell higher” mentality though. I’m not saying it works with everything, but a lot of times it does (oil, gold for last 5 years, google for a while, solar before this year, etc)
if u guys really do want to make money with this great analysis, after the us markets close buy into asian markets u’ll make a killing, great work brian, whats ur books name again, tnx a heap!
not only that, but the H&S pattern on the RUT/IWM is so outrageously obvious that it is likely to become a self-fulfilling prophecy on top of the technical tendency to retrace the depth of the head-to-neckline distance. i could be wrong though.
i generally don’t get involved with bullish positions on underlyings that have formed all time highs. the short explanation is, it runs completely counter to “buy low, sell high.” there are other opportunities out there.
Does anyone know why I couldn’t view the video? It says WE ARE SORRY. THIS VIDEO IS NO LONGER AVAILABLE. Thanks a bunch.
I’ve never heard of anyone using the shoulder height for a projected target. The height of the head is the generally accepted probable target. Of course, this is just an odds game. Either way, the head and shoulders pattern is fairly reliable. I wouldn’t bet against it. Also, Brian is a pretty bright technical analyst.
Ive been following your videos for some time now and just wanted to say their awesome. Really good work.
Brian obviously likes to target the decline from a head & shoulders pattern using the height of the head. Others use the height of the highest shoulder. Any others have an opinion?
