Earnings Estimated on 12-11 BMO..
Possible stop
Inverse Head and shoulders patterns are reliable as a rule..
Head is at 3.50..
LS is 4.5..
RS is 5.28..
Some prefer the RS to be higher than the LS as they say a better outcome is acheived
This is not to long entry level and the neckline is resistance until price is above it, then the neckline becomes support..
Not a recommendation..
Inverse H&S pattern completes when the asset's price rallies above the pattern's neckline, or breaks through the resistance line. You can place a stop-loss order (trade stop at a set point) just below the low point of the right shoulder.
The take profit level is calculated by measuring the distance between the head and the neckline of the pattern, and then placing the target the same distance from the neckline in the direction of the breakout.
Possible stop
Inverse Head and shoulders patterns are reliable as a rule..
Head is at 3.50..
LS is 4.5..
RS is 5.28..
Some prefer the RS to be higher than the LS as they say a better outcome is acheived
This is not to long entry level and the neckline is resistance until price is above it, then the neckline becomes support..
Not a recommendation..
Inverse H&S pattern completes when the asset's price rallies above the pattern's neckline, or breaks through the resistance line. You can place a stop-loss order (trade stop at a set point) just below the low point of the right shoulder.
The take profit level is calculated by measuring the distance between the head and the neckline of the pattern, and then placing the target the same distance from the neckline in the direction of the breakout.