H&S Pattern
Understanding the Head and Shoulders Chart Pattern:
- Formation: Consists of two smaller peaks (shoulders) on either side of a higher peak (head).
- Breakout Confirmation: Occurs when the price breaks the neckline after forming the second shoulder, signaling a potential trend reversal upward
- Target: The move's potential height can be estimated from the head's height added to the breakout point.
This pattern is a classic reversal indicator, great for identifying entry points
