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Reverse Shoulder Head Shoulder Definition:
A head-to-shoulder pattern is also a trend reversal pattern.
A Dip (left shoulder), then a Lower Valley (head) and then another High Valley (right shoulder).
The “Neckline” is drawn by combining the highest points of the two Peaks. The neckline resistor need not be strictly horizontal.
. This is the downtrend to the end shows that it is over.
. When a head-to-shoulder formation is seen in the downtrend, it represents a major reversal.
. The pattern is confirmed when the price breaches the neckline resistance.
In this example, we can easily see the head and shoulders pattern.
How To Trade The Shoulder Head Shoulder Pattern:
we place an entry order below the neckline.
We can also calculate a target by measuring the high point of the head to the neckline.
This distance is approximately how much the price will move after breaking the neckline.
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