DAX, Single Busted Head & Shoulder Top
After a prolong uptrend, when Head & Shoulder appears it is normally deem as a form of topping pattern by the bulls
However, at times when the right shoulder neckline breakout downwards, drop less than 10%, reverse and continue upwards and finally has a close above the head.
Statistically, price can gain as much as 31%. If that is the case, we might see another ultimate higher high before the real collapse!
This is the hardwork down by our friend who did the backtesting - Thomas Bulkowski
thepatternsite.com/BustHST.html
However, at times when the right shoulder neckline breakout downwards, drop less than 10%, reverse and continue upwards and finally has a close above the head.
Statistically, price can gain as much as 31%. If that is the case, we might see another ultimate higher high before the real collapse!
This is the hardwork down by our friend who did the backtesting - Thomas Bulkowski
thepatternsite.com/BustHST.html
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.