After the falling wedge breakout I posted earlier Will reliance take support on the trend-line or break it? Will it take nifty to lower levels along with it. Can be weak after a close below 2400 Stay tuned
Its' a concocted H&S. The right shoulder's top is higher than left shoulder. Both should be at same level or right one should be lower. That's why it is taking support at previous low i.e 2380 and now can move upside. @TradePatternsLikePro
LearningJoe
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Looks more like a concocted H & S. Don't you consider that shoulders have to be much lower as cf. to the Head ?
TradePatternsLikePro
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@LearningJoe, Great point! Can we say it also looks like a double top in this case? As head and right shoulder are quite close!
LearningJoe
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@TradePatternsLikePro, Thanks for response. I am a beginner in TA & hence go by your final view but double top breakdown & sustaining below 2464 required for confirmation.