Sunday, 25 October 2015

Inverted Head & Shoulder pattern

Today after a long time I looked at the Nifty daily chart in some detail and could spot an inverted head & shoulder pattern.  You can say it is somewhat of a late identification of pattern but still it will give some insight to the readers who love pattern trading.

Head & shoulder pattern at the top of an uptrend and inverted head & shoulder at the bottom of an downtrend is considered as a reversal pattern.

Below is the example of IHS (inverted head & shoulder).



Now I present to you the Nifty daily chart.  The pattern and target is marked there.

 

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