Reversal Head and Shoulder

We note a valid Head and Shoulder reversal pattern is completed and the up trendline from early this month is breached. Theoretically, the minimum amount of downside movement could reach to the same amount from the head to the neck of the pattern. Hence, it is wise to go long only after bullish technical evidence is seen to avoid anxiety and denial trading bias.

Disclaimer: No trading strategy provided here. Our content is intended to be used and must be used for technical analysis education purposes only

Comment:

Bearish Flag breached. We expect for more movement to the downside