Inverted H&S: Right At The Top in Biocon

The long trades could be initiated above the neckline of this inverted pattern.

Hope this idea will help some traders for better trade planning.
Do hit the like button and comment if necessary.

Comment: I will try to delve into the levels as soon as the trade is initiated.
Comment: Nice

We can wait for a close above neckline on hourly before going long.
One can try any other entry technique that works.
Comment: Trade will be active above 616, stop below 600, target will be 645.
Comment: Order above 616 still pending.
Comment: Stock is taken down by the weak market. The pattern will be reconsidered above neckline 612-613 level. Pattern will be negated below 566.
I think the trade is active now
right shoulder should complete with big volumes.. then only trade can be initiated.. am I right sir?
Bravetotrade nareshbabuh
@nareshbabuh, sorry I could not understand the word 'complete' in your question. Will u please elaborate it.
nareshbabuh Bravetotrade
@Bravetotrade, I mean the right shoulder touching the neck line
Bravetotrade nareshbabuh
@nareshbabuh, if you mean break out of neckline with big volume.. Then yes it should.
But up to the end of this down move I would like to see lower volumes.
I hope I was able to convey how I look at it.
nareshbabuh Bravetotrade
@Bravetotrade, exactly.. I wasn't able to convey the message properly but we are on the same page :-)
Bravetotrade nareshbabuh
@nareshbabuh, 👍
Shouldn't it be better to have a inverted Head and Shoulder pattern at the bottom? It is a bullish reversal pattern right so must have something to reverse.
Bravetotrade praveen.bhatiya
@praveen.bhatiya, I agree. But inverted h&s is normal as a continuation pattern in the middle of up moves.
And who knows when we ll look at the chart after few weeks, this may look like a solid base :)
praveen.bhatiya Bravetotrade
@Bravetotrade, yes you are right. Market is supreme let's see what it wants to do. Thanks for your prompt reply.
EN English (IN)
EN English
EN English (UK)
DE Deutsch
FR Français
ES Español
IT Italiano
PL Polski
SV Svenska
TR Türkçe
RU Русский
PT Português
ID Bahasa Indonesia
MS Bahasa Melayu
TH ภาษาไทย
VI Tiếng Việt
JA 日本語
KO 한국어
ZH 简体中文
ZH 繁體中文
AR العربية
HE עברית
Home Stock Screener Forex Screener Crypto Screener Economic Calendar How It Works Chart Features House Rules Moderators Website & Broker Solutions Widgets Stock Charting Library Feature Request Blog & News FAQ Help & Wiki Twitter
Profile Profile Settings Account and Billing My Support Tickets Contact Support Ideas Published Followers Following Private Messages Chat Sign Out