INVERTED HEAD AND SHOULDER - PERFECT PRICE ACTION EXAMPLE IN M&M

We can see perfect price action for Inverted head & shoulder pattern here.

The price made shoulder 1 and moved down to form complete inverted head & shoulder pattern 2.

It gave a breakout with shoulder 2 target met in confluence with neckline of pattern 1.

Then proper pullback and continuation is seen to neckline 2 and then back to neckline 1 completing our pattern 1.

Now it has given a breakout and looks good above 1075 level for a positional target of 1172.

Disclaimer: This idea is for educational purpose and kindly buy as per your risk management. I always encourage partial booking 1-2% profits and use a strict trailing stop loss. Idea is positional and only carry position on day closing basis.

Learn & earn,

Dr . Tanya Kumar