Components of the figure "Head and shoulders"
Let's take a look at every component of the figure:
- The descending trend is necessary in front of the figure, because the head and shoulders are a reversal figure.
- the left shoulder marks the maximum of the current upward trend.
- Falling of the price after completes the formation of the first leverage.
If we do not fall from the edge of the leverage, the pattern can work out.
Let's take a look at every component of the figure:
- The descending trend is necessary in front of the figure, because the head and shoulders are a reversal figure.
- the left shoulder marks the maximum of the current upward trend.
- Falling of the price after completes the formation of the first leverage.
If we do not fall from the edge of the leverage, the pattern can work out.
Trade closed: target reached
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.