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📚Learn More💰Earn More - Inverted Head and Shoulders in GBPJPY

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FX:GBPJPY   British Pound / Japanese Yen
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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.

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Comments

Inverted? Maybe you mean Inverse 🙃😂
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great.... does RSI bullish divergence should be always there? rsi settings regarding this if any
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Same idea very nice
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thanks radhe radhe 🙏
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ForecastCity shibukumbhkar039
@shibukumbhkar039, Thank you for your comment.
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Thanks for the signal! It's a great one.
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@Tarik29, Thank you for your comment. We appreciate it.
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Great. Thank you for sharing
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ForecastCity sofi_Morphy
@sofi_Morphy, It's our pleasure! Thank you for your comment.
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