Commonly used Forex Chart patterns (Head and Shoulders (H&S))

[Md Mizanur Rahman]

The H&S pattern can be a topping formation after an uptrend, or a bottoming formation after a downtrend. A topping pattern is a price high, followed by retracement, a higher price high, retracement and then a lower low. The bottoming pattern is a low, a retracement followed by a lower low (head) and a retracement then a higher low (second shoulder) (see Figure 1). The pattern is complete when the trendline ("neckline"), which connects the two highs (bottoming pattern) or two lows (topping pattern) of the formation, is broken.

 

[juan carlos]

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[Andrea]

thanks for sharing

 

[axl]

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[Melusi]

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[jeff994fire86]

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[legolas_aims]

is there any detection indicators available for the same ?