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  • Bullish Chart Patterns: Inverted Head and Shoulder

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    Sona Gavde
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    This document describes a bullish chart pattern called an inverted head and shoulders. It consists of a head with two shoulders below it separated by necklines. The strategy is to buy when the close is above the neckline with increased volume on the breakout candle. The price target is where a vertical line up from the low of the head meets the neckline plus the distance X. The time target is the number of candles from the end of the first neck point to the breakout candle divided by three.

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    Notes Technical Analysis -26

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    This document describes a bullish chart pattern called an inverted head and shoulders. It consists of a head with two shoulders below it separated by necklines. The strategy is to buy when the close is above the neckline with increased volume on the breakout candle. The price target is where a vertical line up from the low of the head meets the neckline plus the distance X. The time target is the number of candles from the end of the first neck point to the breakout candle divided by three.

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    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
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    8 views1 page

    Bullish Chart Patterns: Inverted Head and Shoulder

    Uploaded by

    Sona Gavde
    This document describes a bullish chart pattern called an inverted head and shoulders. It consists of a head with two shoulders below it separated by necklines. The strategy is to buy when the close is above the neckline with increased volume on the breakout candle. The price target is where a vertical line up from the low of the head meets the neckline plus the distance X. The time target is the number of candles from the end of the first neck point to the breakout candle divided by three.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Flag for inappropriate content
    of 1

    Bullish Chart Patterns

    • Inverted Head and shoulder

    Time target = No of Candles


    3

    Strategy

    - Close is above neckline


    - Increased volume on Breakout candle
    - X= Vertical distance from Low of Head to Neckline.

    Price Target = Intersection point of the neckline and Breakout candle +X

    Time Target = No of candles from end of 1st Neck point to Breakout candle divided by 3.

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