03-14-2007, 04:51 AM
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| A good trading opportunity (head and shoulders formation) from hindsight
On 5 March 2007, YM strated trending up on the morning to reach the pp level (12168). Price reacted at PP and formed a left shoulder. It trended a bit later up to penetrate the PP level and retraced to PP level by forming the head. Price struggled at this level and strated forming a leaf shoulder. From hindsight, this is a good opportnity to take a short position (red arrow on the chart to the right; 60 tick chart). |
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