a perfect head and shoulder formed before fall of 2008 giving indication market topped out. here target of head and shoulder is said to be height of head 6357-4100 i.e. we expect fall of 35% but index fall about 45% and so target achieved. for better results of pattern try to find out pattern on long term time frame. here we have used Weekly time frame.
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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.