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Head and Shoulders - "Learn More Earn More" with us Head and Shoulders Definition: A head and shoulders pattern is also a trend reversal formation. It is formed by a peak (left shoulder), followed by a higher peak (head), and then another lower pea k (right shoulder). A “Neckline” is drawn by connecting the lowest points of the two troughs. Neckline support does not need to be strictly horizontal. . This illustrates that the upward trend is coming to an end. . When a Head and Shoulders formation is seen in an uptrend , it signifies a major reversal . . The pattern is confirmed once the price breaches the neckline support In this example, we can easily see the head and shoulders pattern. How to Trade the Head and Shoulders Pattern: ENTRY: we put an entry order below the neckline. TARGET: We can also calculate a target by measuring the high point of the head to the neckline. This distance is approximately how far the price will move after it breaks the neckline.
Education
by ForecastCity
12
Head and shoulders forming Possible head and shoulders forming in WB. I was expecting WB to rise with the large tech stocks but with the weak performance of most tech stocks other than AAPL recently I am afraid they will resume their downward pattern. They had a strong upward pattern since May but a Head and Shoulders is a bearish reversal pattern. I'm not sure where to put the neckline could someone help me with that? My understanding is that it starts at the dip before the first shoulder than ends at the dip after the second shoulder (which hasn't formed yet so maybe we can't draw that in yet) Appreciate any comments! Thanks
NASDAQ:WB
by Jeff-Bezos-4th-wife
Invers H&S in making on 4HHello traders, by the look on the 4h chart, it seems very likely, we are making inverse Head & Shoulders pattern, which is maybe one of the only patterns bitcoin really follows most of the times. If thats going to work out, we should make another shoulder down to around 8750/8900 area and when price go back up to 9150/9250 and brake the neck area, we should get to at least 9700/9800. Depending on how strong this move gets at that point, if bulls are strong enough, they may try to test the 10k area again. Lets see. Can it be, what bulls need now? Or bears will take over and take us lower? Let me know, what you think, in comments. Thank you. This is not a trading advice!
BITSTAMP:BTCUSDLong
by Pedrinho33
Looking for 9k confirmation before re-testMy previous short target hit, albeit very quickly (see related idea). I'm waiting for us to creep back down to low 9k's/ high 8k's before we confirm whether or not we will continue this raunchy looking triangle. if the triangle is not to continue, we will fail to break 9500. This resistance may be encountered beginning at 9300+. Alts are showing more strength than ever. I have my eyes on several projects that have been trading strong against btc's descent.
by BingoMoney
1