Monday, September 7, 2009

Reverse Head & Shoulders (Important Chart Patterns)

A trend reversal pattern formed by a valley (shoulder), lower valley (head) and another higher valley (shoulder).

  • Happens after an extended downtrend.
  • Place your long entry above the neckline.
  • Calculate our target by measuring the distance between the low point of the head & the neckline. This is the approximate distance that the price will move after it breaks the neckline.

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