An inverse head and shoulders pattern, upon completion, signals a bull market One should enter into a long position when the price rises above the resistance of the neckline.
3 Component parts of Inverse H&S are:
*After long bearish trends, the price falls to a trough and subsequently rises to form a peak. The price falls again to form a second trough substantially below the initial low and rises yet again. The price falls for a third time, but only to the level of the first trough, before rising once more and reversing the trend.
As long as the down-trend before Inverse H&S, BO would be large and upside would be stable...
Hari Om Madam what about todays (10/8/21) situation? Your valuable view pl. Thanks
ashisht2
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classical charting patterns not your cake dear!
ashisht2
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I would recommend you to learn moving averages and the net money flow. that should tell you about almost everything.
ashisht2
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that's not at all an IHS. surprised to see a pro user publishing and misguiding followers.
ashisht2
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a no brainer that chart is wrong. as the shoulder is at closing price and the other shoulder is at a high price. do a line chart at the same time frame and see if m right or wrong. don't worry you will be right at some point in life.