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Inverse Head and Shoulders

What is Inverse Head and Shoulders Pattern?Inverse Head and shoulders Pattern is the mirror image of head and shoulders pattern. Read about Head and Shoulder Pattern here: Inverse H&S Pattern is bullish reversal pattern. Signals the traders to enter into long position above the neckline. Volume play a major role in both H&S and Inverse H&S Patterns. Usually the spike in volume on breakout is considered as a great signal for bullish entry. Again a suitable target can be obtained by measuring the distance between head and neckline of the pattern and using same distance to project the target . After the neckline breakout there is also a probability that prices can be retrace again to neckline due to lack of demand . Prices can only rise if again there is more demand which will lead to bullish uptrend. Also if the neckline slopes slightly upward that is the sign of greater market strength thus gives further conformation to go bullish on Inverse H&S Patter . Let us know what do you think about Inverse H&S Pattern? Please comment your views/doubts! As always nothing works every time in markets. Please do your research before taking any position. This is only for Educational Purpose. We are covering all Major Reversal and continuation patterns in this series. Follow to get updated with all the informative and educational trading ideas. Next Pattern we will cover: Round Bottom Pattern
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📚Learn More💰Earn More - Inverted Head and Shoulders in USDJPY📚 LEARN MORE 💰 EARN MORE With ForecastCity Inverted Head and Shoulders Definition: A head and shoulders pattern is also a trend reversal formation. It is formed by a Valley (left shoulder), followed by a Lower Valley (head), and then another Higher Valley (right shoulder). A “ Neckline ” is drawn by connecting the highest points of the two Peaks. Neckline resistance does not need to be strictly horizontal. This illustrates that the downward trend is coming to an end . When a Head and Shoulders formation is seen in a downtrend, it signifies a major reversal . The pattern is confirmed once the price breaches the neckline resistance . In this example, we can easily see the head and shoulders pattern. How to Trade the Head and Shoulders Pattern : ENTRY: we put an entry order above the neckline. TARGET: We can also calculate a target by measuring the lowest point of the head to the neckline. This distance is approximately how far the price will move after it breaks the neckline. ❤️ If you find this helpful and want more FREE forecasts in TradingView . . . . . Please show your support back, . . . . . . . . Hit the 👍 LIKE button, . . . . . . . . . . Drop some feedback below in the comment! ❤️ Your Support is very much 🙏 appreciated! ❤️ 💎 Want us to help you become a better Forex trader ? Now, It's your turn ! Be sure to leave a comment let us know how you see this opportunity and forecast. Trade well, ❤️ ForecastCity English Support Team ❤️
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Reliance Elliot Waves, Gap analysis, Head and Shoulders PatternDisclaimer: Just for Study purpose, trading/investing not recommended on this analysis it can be wrong. Reliance gives classic examples where it shows similar targets with help price action and Elliot waves. Inverse Head and shoulders breakout target seems to reached As 3rd Elliot wave is extended 5th Wave should be normal (not extended) During Run up it created Breakaway Gap, Runaway Gap, Exhaustion Gap
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