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Head and Shoulders

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Considered as a relatively reliable and accurate chart pattern for long term trading. Built of 3 peaks, while the second peak (the head) is the highest (or lowest, in case of an upside head and shoulders). The other 2 peaks are about the same height – the shoulders. A head and shoulders pattern is a good sign to go short (or to go long, in the case of an upside head and shoulders).

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Open Position

An active trade that has yet to be closed.

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