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Trading the Head & Shoulders - Normal and Inverted

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NSE:EXIDEIND   EXIDE INDUSTRIES
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 the Inverted H&S , thereby giving an opportunity to buy if the resistance level is broken out of.

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