Posted by chartboy on 27th of Feb 2021 at 12:35 am
“The
above (below) figure shows an example of a Head-and-shoulders top
chart pattern. The left shoulder (LS) appears above the right
shoulder (RS). But, the two shoulders appear symmetrical about
the head. A neckline shown in blue, joins the two armpits.
Where price closes below the neckline, a breakout occurs and it
also confirms the chart pattern as being a valid head-and-shoulders
top. A pullback occurs in this example just to make trading
interesting.
-- Thomas Bulkowski”
Newsletter
Subscribe to our email list for regular free market updates
as well as a chance to get coupons!
“The above (below) figure shows an
Posted by chartboy on 27th of Feb 2021 at 12:35 am
“The above (below) figure shows an example of a Head-and-shoulders top chart pattern. The left shoulder (LS) appears above the right shoulder (RS). But, the two shoulders appear symmetrical about the head. A neckline shown in blue, joins the two armpits. Where price closes below the neckline, a breakout occurs and it also confirms the chart pattern as being a valid head-and-shoulders top. A pullback occurs in this example just to make trading interesting.
-- Thomas Bulkowski”