Head and shoulder most likely go longDue to Gap ups and Gap downs lot of Noise is created in technical chart as the market wants to will its gaps this noise is created.
Head and Shoulders
TataChema HS pattern Visible in Tatachemical
Stock broke neckline and again went up but couldnt break the right should...
Now broken the neck line...
lets see how it behaves!!!
Chart is for study purpose only!!!
mgl - just for observationstock has broken below head and shoulder neckline . just observing for 2-3 mnth whether price will fall further and achieve head and shoulder target or not. expected levels 600 to 650
NIFTY: CRUCIAL Juncture Some FACT & View from Various Aspect.Detailed mentioned on Chart.
TAG: Head & Shoulder, Inverted H & S, AB=CD, Trend Lines,
Disclaimer: Take this information as study/education purpose only.
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The Head And Shoulders PatternHello Traders,
I have made made some efforts to understand the minute details of H&S pattern. I hope these details will catch your interest.
Do hit Like or Comment for better educational posts in future.
Trade safe, stay healthy.
Best regards
Bravetotrade
Nifty - Killroy(9701), Deep Crab & 9643- The Three HeroesSensex hits a historical high -32000 mark.
Do you remember bullish deep crab - No. Then definitely you remember 9643- No, Aha, then surely you must have used Killroy Pattern (Inverse Head & Shoulder) to your advantage - isn't that. Cheers to the Bulls.
What is Killroy
Killroy or Inverse Head & Shoulder Pattern as termed by "Edwards & Magee in Bible book- Technical Analysis of stock trends" is a must copy every analyst should have on his desk.
Killroy Target
Measure the distance from head start to the resistance or neckline ( shown by vertical blue solid line)-
Standard Bookish Target
Copy that vertical blue solid line place it from neckline which is 9700 zone -you get target of 9950 (shown as red dotted line)
Non Standard Bookish Target- Thinking out of the box
Copy that vertical blue solid line & place it from right shoulder bottom- deep crab bottom or 9643 bottom -you get target of 9888 (shown as green dotted line)
Practical Example of Killroy in ITC 290-355
How important a level can be was visualised in last 3-4 trading sessions as soon as technical glitch happened. Nifty made a bottom at 9643 on 10th July2017 - A Bullish Deep Crab to turn nifty on 7th July2017 at 9643 - wasn't that a support.
Turning upside from 9643
It gave you time as well during the glitch session- after all such historical events never happen again & again & Nifty never crosses 9700 again & again.
It was simple analysis- break of the tough resistance was suppose to boom which it did. Post breaking 9700 on upside -it holded above 9700.
Long Term Analysis on Nifty
Nifty with scams
Nifty without scams at 9173
Educational 08: Head N Shoulder & Elliott Waves RelationshipThis is an interesting educational post which I observed last week while analysing charts that were showing Head n Shoulder Patterns. I thought of relating it to the Elliott Waves Theory and found out some similarities in their pattern formation. I have displayed both the pattern formation and indicated WHEN & HOW TREND CHANGES once such patterns are formed.
H&S is a major reversal pattern and it is similarly indicated in Elliott Waves while showing a complete wave cycle where impulsive and correctives waves are added.
Key Similarities:
1. Left Shoulder of H&S pattern is compared to Wave 3 of EW
2. Head of H&S is compared with Wave 5 of EW
3. Left Shoulder is compared as Wave B of corrective Elliott Waves
4. Target of H&S is indicated as a completion of Zig-Zag Correction in Elliott Waves Theory
This make easier to indicate patterns and provide extra confirmation with other technical patterns. This makes our convinction strong and also make us confident to take informed decisions in the markets.
I would appreciate your views on the above sharing,
Thanks for support,
Regards,
Neetesh Jain
