If you have any inverse head and shoulders forex broker head and shoulders pattern forex factory suggestions you are welcome to join our forum discussion about Head and Shoulders Pattern. The Head and Shoulders pattern forms after an uptrend, and if confirmed, marks a trend reversal. The opposite pattern, the Inverse Head and Shoulders, therefore forms after a downtrend and marks the end of the downward price movement. Other key elements of this pattern and its trade process are the breakout, protective stops, profit target and volume, which is used as an additional german ifo business climate forex cargo to confirm the trend reversal.
While prices are trending up, our future pattern’s left shoulder forms as a peak, which marks the high of the current trend. For the shoulder to be formed, the price then needs to correct down, retreating to a low, which is usually above or at the trend line, thus, keeping the uptrend still in force. The next step of confirmation comes when volume increases during the decline from the head’s peak and the last nail in the coffin is when volume gains further during the right shoulder’s decline. You can see those visualized on the following screenshot.
Head and Shoulders is a specific chart formation that predicts a bullish-to-bearish trend reversal, or vice-versa for the inverted variant. It is believed to be one of the most reliable trend reversal patterns. Find Head and Shoulders patterns easily with this indicator. Boost your trading activity with the most flexible Head and Shoulders patterns indicator ever created for the Metatrader platform. Don’t despair if you think they are too many, because parameters are grouped into self-explanatory blocks.
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