Head and shoulders pattern BT would say its a shampoo. It is a terrible TA tool and pattern. Instead use moving averages, BB band, RSI, price channel and reversal candles for trend change.
Even head and shoulders must be confirmed by a big red reversal candle with volume and break a moving average. You are anticipating the H n S pattern before it happens. Eliminate that pattern and your trading will improve.
BT would say that aint no reversal candle i ever seen.
Last night ES 60 hit RSI 70 had side by side reversal candles but it needed to break a moving average for confirmation. Does it look like a H n S pattern. Yes it does. So it broke the 60 20 ma and had confirmation of the trend reversal.
That pattern could have easily bounced off the ES 60 MA 20 and rallied to new highs. That was the inflection point and info you needed for the trade.
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