Head and Shoulders pattern in the Note Currency 5-minute indicator typically
It is a chart model used in analyzing price charts in technical analysis of financial markets. This model is used to predict a reversal in the price of a financial instrument, and is a popular model learned by traders.
The head and shoulders pattern is a formation pattern that appears on price charts in technical analysis. The pattern consists of three peaks, with the central peak (the head) being higher than the two side peaks (the shoulders). This pattern is interpreted as a signal that an uptrend may reverse into a downtrend, and is considered a negative signal when the neckline below the right shoulder is broken.
