📚HOW TO EFFECTIVELY USE THE HEAD & SHOULDER PATTERN 📚
Right here is the dynamic head and shoulder pattern and the steps to trade them when you spot them on the chart.
For Head and shoulder pattern to effectively work, we need the left shoulder and the head to complete first.
Then we will wait for price to fall back to the support horizontal line. Then if price doesn't break the support level downward, you enter a buy order and set your take profit where the right shoulder will form.
Also, if price does not break the resistance at the right shoulder, then we now have our H & S pattern.
We then sell again and take profit at the support.
Then if a downward breakout occur at the support, we wait for a retest back to the support zone to turn resistance. Then we sell again through the long tail.
THE SAME GOES FOR THE INVERSE H & S PATTERN.
What do you think?
Share your opinion in the comment section✍️
Please support this idea with a LIKE👍 if you find it useful🥳
Follow me to receive more updates on this pair🤙
Comment any coin you need my analysis or forecast on📈📉
Happy Trading💰🥳🤗
Thank you for your support!💓
For Head and shoulder pattern to effectively work, we need the left shoulder and the head to complete first.
Then we will wait for price to fall back to the support horizontal line. Then if price doesn't break the support level downward, you enter a buy order and set your take profit where the right shoulder will form.
Also, if price does not break the resistance at the right shoulder, then we now have our H & S pattern.
We then sell again and take profit at the support.
Then if a downward breakout occur at the support, we wait for a retest back to the support zone to turn resistance. Then we sell again through the long tail.
THE SAME GOES FOR THE INVERSE H & S PATTERN.
What do you think?
Share your opinion in the comment section✍️
Please support this idea with a LIKE👍 if you find it useful🥳
Follow me to receive more updates on this pair🤙
Comment any coin you need my analysis or forecast on📈📉
Happy Trading💰🥳🤗
Thank you for your support!💓
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.