Thread by @TechnoFunda6

Thread 🧵explaining Inverted Head & Shoulder Pattern used in #TechnicalAnalysis

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#TechnicalAnalysis #ChartPatterns #Charts #StockMarket

1⃣An inverse Head and Shoulders (H&S) pattern is a #bullish trend reversal chart pattern.

This chart pattern is the opposite of the traditional "Head and Shoulder (H&S)” pattern.

#TechnicalAnalysis #ChartPatterns #Charts #StockMarket

2⃣ Pattern has four parts -

✅Left Shoulder
✅Head
✅Right Shoulder
✅Neckline

After downtrend, first a left shoulder is formed followed by a lower head followed by right shoulder as shown in chart below.

Pattern is complete when price breaks neckline on upside.

3⃣

In theory, the height of both shoulders should be the same, and the neckline should be horizontal.

In practice, the shoulders are often not of the same height, or the neckline ascends or descend.

4⃣

Target for the pattern is calculated above the neckline equal to price difference between the low point of head and neckline.

#TechnicalAnalysis #ChartPatterns #Charts #StockMarket

For real life example of Inverted Head & Shoulder Pattern on Chart refer our case study 1

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https://twitter.com/TechnoFunda6/status/1400117585979445251?s=20

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