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What about the Volumes aspect in this pattern...does that confirm for a Inverted head and shoulder? I am no Ta but just know the basics. Remember there is some thing about Volumes to be looked into in a H&S pattern. Hence the query.
Hi Yagnesh and RK (Tis surely a small world :D)Whereall one reaches, one finds it own kind !!!!!So how did u get here RK, been with Yagnesh since ages .. almost since my 'Inception' into TA.btw if u see the last candle, the vols are above average ... for the breakout candle ie.MurAtt
Hi,Thanks for the chart. Couple of things i notice missing in the chart.1) right (current) shoulder should be shorter than the left (older) shoulder for HNS/inv HNS2) Breakout should be supported by volumes.
Gr8 to see old friends writing.I have found that width of shoulders can vary a bit and it need not be as balanced as human head and shoulders :-).I have kept the neck line a bit low to project an achievable target aggressive target of 585 will be arrived if I place the neck line 15 points above the current line.Also last green building in the volume skyscrapers is much above avg to confirm breakout.Bye Yndesai
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