Simple Inverted Head Head & Shoulders Reversal pattern
OBSERVATIONS :-
1) . As we know Inverted Head & Shoulders is a Reversal pattern from Bearish to Bullish
2) We can see the stock is in Downtrend for sometime and slowly losing momentum at the downside
3) Then it forms Left and right shoulders with Head forming with much lower price. Having either Hammer or bearish Marubozu candle is also a confirmation of good rejection
4) After touching the neckline resistance breaks , we have to wait till it retest and then enter
5) You can go LONG / BUY the stock if retests and go further up after breakout
6) STOPLOSS - This can be set slightly below the neckline
7) TARGET - This we can set as same as the width of the pattern itself considering Head.
1) . As we know Inverted Head & Shoulders is a Reversal pattern from Bearish to Bullish
2) We can see the stock is in Downtrend for sometime and slowly losing momentum at the downside
3) Then it forms Left and right shoulders with Head forming with much lower price. Having either Hammer or bearish Marubozu candle is also a confirmation of good rejection
4) After touching the neckline resistance breaks , we have to wait till it retest and then enter
5) You can go LONG / BUY the stock if retests and go further up after breakout
6) STOPLOSS - This can be set slightly below the neckline
7) TARGET - This we can set as same as the width of the pattern itself considering Head.