👑 Terms used if you don't know :
✣ An inverse head and shoulders also called a "head and shoulders bottom", is similar to the standard head and shoulders pattern, but inverted: with the head and shoulders top used to predict reversals in downtrends. This pattern is identified when the price action of security meets the following characteristics: the price falls...
This Exide Industries Chart is a perfect example of a Head & Shoulders pattern moving into an Inverted Head & Shoulders pattern.
In the H&S pattern, the neckline forms a crucial support level, whereas in an Inverted H&S, the Neckline forms crucial resistance.
In this particular pattern, volumes have increased during formation of the Head & Right Shoulder in...
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Inverted Head and Shoulders Definition:
A head and shoulders pattern is also a trend reversal formation.
It is formed by a Valley (left shoulder), followed by a Lower Valley (head), and then another Higher Valley (right shoulder).
A “ Neckline ” is drawn by connecting the highest points of the two Peaks....
Detailed mentioned on Chart.
TAG: Head & Shoulder, Inverted H & S, AB=CD, Trend Lines,
Disclaimer: Take this information as study/education purpose only.
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