PSX - 14 months DOUBLE-HEAD & SHOULDERS CONTINUATION
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Since 2014, my markets approach is to spot trading
opportunities based solely on the development of
CLASSICAL CHART PATTERNS
🤝Let’s learn and grow together 🤝
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Hello Traders ✌
Here we have a good example of a Double-Head and Shoulders Continuation.
Someone could consider the price movement between the Shoulders as a unique Head. The pattern implications are exactly the same so we can say that it doesn't matter but, since my goal is also didactical, in my opinion this has to be considered as a Double-Head since prices tried to recover from the bottom and failed once before reaching the previous high and so forming the neckline.
🔎🔎🔎 ALWAYS REMEMBER
"A pattern IS NOT a Pattern until the breakout is completed. Before that moment it is just a bunch of colorful candlesticks on a chart of your watchlist"
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⚠ DISCLAIMER ⚠
The content is The Art Of Charting's personal opinion and it is posted purely for educational purpose and therefore it must not be taken as a direct or indirect investing recommendations or advices. Any action taken upon these information is at your own risk.
════════════════════════════════
Since 2014, my markets approach is to spot trading
opportunities based solely on the development of
CLASSICAL CHART PATTERNS
🤝Let’s learn and grow together 🤝
═════════════════════════════════
Hello Traders ✌
Here we have a good example of a Double-Head and Shoulders Continuation.
Someone could consider the price movement between the Shoulders as a unique Head. The pattern implications are exactly the same so we can say that it doesn't matter but, since my goal is also didactical, in my opinion this has to be considered as a Double-Head since prices tried to recover from the bottom and failed once before reaching the previous high and so forming the neckline.
- Pattern Class: 🌕🌕🌕🌕🌑
- Target area: 123.00
- Breakout area above: 98.00
🔎🔎🔎 ALWAYS REMEMBER
"A pattern IS NOT a Pattern until the breakout is completed. Before that moment it is just a bunch of colorful candlesticks on a chart of your watchlist"
═════════════════════════════════
⚠ DISCLAIMER ⚠
The content is The Art Of Charting's personal opinion and it is posted purely for educational purpose and therefore it must not be taken as a direct or indirect investing recommendations or advices. Any action taken upon these information is at your own risk.
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