dummyvariable77

TCS | Inverse H&S + Trendline BO

Long
NSE:TCS   TATA CONSULTANCY S
Targets 3231.

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Thank you.
Trade closed: target reached: Inverse H&S proves its reliability yet again :)) Patience is key!

Comments

@dummyvariable77 @Rohit_Tomar, I could not find any IHS or C&H pattern in the chart shown above. For, IHS to be perfect right side and the left side shall be equal in counts: from shoulder to neck (right and left) and from neck to head (right and Left) it has to be equal in degree/price and bar counts, if not equal, it shall not be big difference, as like we humans have in our left-right parts of the body, from head to toe.

Also, please mind that H&S mostly happens at the top and IHS mostly happens at bottoms after a big upside and downside move respectively.

Also, a C&H pattern does not have such zig-zag move. Just for sake of supporting our biased view/(s), we shall not rush into finding patterns that matches our views.

Don't take it negatively or other way. Even when I was new to the Technical Analysis and trying to learn new things I was also doing such mistakes. But, apparently I have learned that what I was doing was a kind of biased study to support my biased views.
+12 Reply
sansvk sapangor
@sapangor, Nice. Thx.
Reply
@sapangor Target Reached!
Reply
I bought TCS at 2934
+8 Reply
I have another theory to support your logic in this. It formed a cup & handle pattern with depth of 180 points and up trended with volume for target of 3260 which is bottom of 21-Jan-21.
+5 Reply
dummyvariable77 Rohit_Tomar
@Rohit_Tomar, Nice catch :)
+2 Reply
EXCELENT!!
+3 Reply
can you teach me how to analyse the graphs,please.
+3 Reply
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