I'm usually not too sharp at identifying head and shoulders pattern due to the fact that I just haven't put in the time to really train my RAS to identify them quickly. With that being said I am a structure based trader and these patterns often present some very important structural levels which can lead to some pretty decent trend continuation trades whether you're playing the breakout or the bounce.
I decided to have a little fun tonight while doing my market analysis. While looking at the EURJPY, I drew out about 3 potential trading opportunities and it brought me back to my earlier trading days where something like this would freak me out. Do I wait for the Bat? Do I take the potential double bottom long? Is this Cypher pattern even valid due to that reactionary spike caused by this mornings ECB Conference? Going back to the post that I wrote this morning ("Learning The Language") this is a great example of one of those mental battles that a trader faces on a dail