What is a Head And Shoulders Pattern?
Head and shoulders pattern in technical analysis, shows a chart formation that predicts a bullish-to-bearish *trend reversal*.
The head and shoulders pattern is believed to be one of the most reliable trend reversal patterns. It is one of several top patterns that signal, with varying degrees of accuracy, that an upward trend is nearing its end.
The analysis and tutorial is based on current price action on Bitshares versus US Dollar trade dated 3rd Feb 2018
This give a clearer picture of what is actually going on in the market and help make trading decisions.
from the chart, 2 heads and shoulders were formed in the 4 hour time frame chart which gives an accurate prediction of a bearish trend reversal. An *inverse head and shoulder* gives an indication on of a *bullish trend reversal*
the first head and shoulder formation took the price of Bitshares from $0.80 down to $0.55
the second head and shoulders took the price from $0.55 to $0.28.
Bitshares currently trading at $0.32. trading above my initial buy signal in my previous post.
Head and shoulders pattern in technical analysis, shows a chart formation that predicts a bullish-to-bearish *trend reversal*.
The head and shoulders pattern is believed to be one of the most reliable trend reversal patterns. It is one of several top patterns that signal, with varying degrees of accuracy, that an upward trend is nearing its end.
The analysis and tutorial is based on current price action on Bitshares versus US Dollar trade dated 3rd Feb 2018
This give a clearer picture of what is actually going on in the market and help make trading decisions.
from the chart, 2 heads and shoulders were formed in the 4 hour time frame chart which gives an accurate prediction of a bearish trend reversal. An *inverse head and shoulder* gives an indication on of a *bullish trend reversal*
the first head and shoulder formation took the price of Bitshares from $0.80 down to $0.55
the second head and shoulders took the price from $0.55 to $0.28.
Bitshares currently trading at $0.32. trading above my initial buy signal in my previous post.