Text Book Head and Shoulders Bottom

Reading price charts which may give you direction in the market using established TA methodology
oldcharlie
Lemon Pip
Posts: 77
Joined: November 5th, 2016, 1:03 pm

Text Book Head and Shoulders Bottom

Postby oldcharlie » January 13th, 2017, 11:04 pm

http://uk.advfn.com/p.php?pid=chartscre ... 27ru5yU%3D

This really is a text book formation. The target is equal to the price at the bottom of the head subtracted from the price at the neckline ie 5500 minus 6400 =900. This is added to the price at the break out above the neckline which was 6400. So the target is 7350. The high today was just shy of the target. It is often said that this is the minimum target but I have rarely seen any H & S meet let alone exceed the minimum target.

OC

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