DAX, Single Busted Head & Shoulder Top
After a prolong uptrend, when Head & Shoulder appears it is normally deem as a form of topping pattern by the bulls
However, at times when the right shoulder neckline breakout downwards, drop less than 10%, reverse and continue upwards and finally has a close above the head.
Statistically, price can gain as much as 31%. If that is the case, we might see another ultimate higher high before the real collapse!
This is the hardwork down by our friend who did the backtesting - Thomas Bulkowski
thepatternsite.com/BustHST.html
However, at times when the right shoulder neckline breakout downwards, drop less than 10%, reverse and continue upwards and finally has a close above the head.
Statistically, price can gain as much as 31%. If that is the case, we might see another ultimate higher high before the real collapse!
This is the hardwork down by our friend who did the backtesting - Thomas Bulkowski
thepatternsite.com/BustHST.html
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