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.
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.
4 comments:
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 HNS
2) 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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