📚💰Head and Shoulders in GBPCAD - Learn More Earn More with US

OANDA:GBPCAD   British Pound / Canadian Dollar
With ForecastCity

Head and Shoulders Definition:

A head and shoulders pattern is also a trend reversal formation.

It is formed by a peak (left shoulder), followed by a higher peak (head), and then another lower peak (right shoulder).

A “Neckline” is drawn by connecting the lowest points of the two troughs. Neckline support does not need to be strictly horizontal.

. This illustrates that the upward trend is coming to an end.
. When a Head and Shoulders formation is seen in an uptrend, it signifies a major reversal.
. The pattern is confirmed once the price breaches the neckline support

In this example, we can easily see the head and shoulders pattern.

How to Trade the Head and Shoulders Pattern:

we put an entry order below the neckline.

We can also calculate a target by measuring the highest point of the head to the neckline.
This distance is approximately how far the price will move after it breaks the neckline.

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love your work. keep it up 💪
+2 Reply
ForecastCity SRTradersfx
@SRTradersfx, We appreciate your support.
Clean chart with the best and most helpful explanation. You're the best. I enjoy reading your posts.
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ForecastCity yusufipek1989
@yusufipek1989, Thank you for your comment. We appreciate it
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Great Work 👌
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ForecastCity Pro_Trader_007
@Pro_Trader_007, Thanks for your kind comment.
❤️ Thank you!

❤️ Thank you!

❤️ Thank you!
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ForecastCity Best_Forecast
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ForecastCity Best_Forecast
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