For this pattern to be in time or with other addition to chart patterns: moving be considered a reversal chart. The head and shoulders pattern crtpto resembles a triple bottom pattern, with a distinguishing difference that the first rejection from neckline pushes the price up above the resistance, which then gets retested.
These reversal chart patterns take a longer period to be formed. In terms of profit targets, a conservative reading of the pattern suggests the minimum-move price target is equal to the distance of the two lows and the intermediate high. The article does not constitute financial advice or advice of any kind. The Bottom Line. You also have the option to opt-out of these cookies.
