A inverse HS pattern is always at bottom of trend. Please avoid trade based on this pattern.
Tradingshiksha
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@viveksamant, depends how you see the trend. I have been trading for last 6 years and I guess I am pretty much aware of the things.
will really appreciate if you don't waste others time by sharing unnecessary inputs.
kacharts
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@TA_charts, if he is wrong and if u r trading from last 6 years ,it doesn't mean u r always right , dnt take inputs in negative manner . debates should be always healthy
PriceTimeSquare
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@TA_charts, sorry boss If you do not have ability to accept views then its your call! I put my views and ok with criticism. A HS is trend reversal pattern and how this Inverted HS is reversing trend? Let me know. I am nowhere saying that Upmove wont happen. The trading based on assumption that it is inverted HS could be problem in terms of Target and SL. I am trading for 10 years so Pls take view and we can agree to differ!
PriceTimeSquare
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@TA_charts, Pls note that Nifty reversed from 10004 in inverted HS pattern!
kacharts
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@viveksamant, which trend r u talking abt .. bottom of uptrend or downtrend?? whatever it is - an inverse head and shoulder pattern on index (especially weekly) indicates a strong reversal.
PriceTimeSquare
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@KumarAbhilash, Completely agree that HS is a trend reversal pattern.
PriceTimeSquare
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@KumarAbhilash, This is hourly chart and on Hourly chart trend is Up from low of 10004
kacharts
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@viveksamant, so vivek u want to say the uptrend which started at 10004 cmp 10616 is near end as per head and shoulder which has been plotted?
PriceTimeSquare
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@KumarAbhilash, The invert HS terminates trend on downside, so reversal happens on upside. If you see nifty chart reversal from 10004 is actually in the form of Inverted HS. That trend is still on, then how again inverted HS will reverse trend on upside? We are talking about hourly chart pattern and not some long term charts here.