Hi all
Good day! In my previous post, I described about Stellar short term price action that follows Inverse Head & Shoulders Pattern which is a bullish pattern. This is executed perfectly well and had a bullish breakout.
In this post, I will explain similar price action that follows the same "Inverse Head & Shoulders Pattern".
As you can see in the chart, the head and shoulders top is used to predict reversals in downtrends. This pattern is identified when the price forms left shoulder, head and right shoulder inverted with a neck line connecting the head and the shoulders . The target is equivalent to the height of the head from the neck line.
Hope you find this useful.
Follow me here, for more updates.
~RPS~
Good day! In my previous post, I described about Stellar short term price action that follows Inverse Head & Shoulders Pattern which is a bullish pattern. This is executed perfectly well and had a bullish breakout.
In this post, I will explain similar price action that follows the same "Inverse Head & Shoulders Pattern".
As you can see in the chart, the head and shoulders top is used to predict reversals in downtrends. This pattern is identified when the price forms left shoulder, head and right shoulder inverted with a neck line connecting the head and the shoulders . The target is equivalent to the height of the head from the neck line.
Hope you find this useful.
Follow me here, for more updates.
~RPS~
Comment:
Watch two candles closing above the neck line to trade this pattern.
