Novice trader trying to get a better understanding of tech analysis. Is this an inverse H+S pattern that failed to break the neckline or has the charter charted the wrong shoulders and head? Lol idk
The left shoulder has to start and end with resistance, for it to be valid there can't be any break of resistance. The way its charted here would've failed from the beginning of the left shoulder because it broke above the neckline before the left shoulder was ever completed. So my advice would be to find where the top resistance/support is before any chart development. In this case it would be the start of the pattern at $330 because there is a horizontal line of resistance there that has been tested multiple times.
keegan5858
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@lynchn25, Thanks again, I see what you are talking about! I didn't even realize i did that. I appreciate it!