HEAD AND SHOUKDERS PATTERN

While we get ready for the holidays we thought we would post some chart patterns for our newbies over the next few days.

The head and shoulders pattern is a formation of 3 peaks with the head being the highest peak (Lowest on inverse). The entry should be below the neckline (Above on inverse). The measure of take profit can be taken by measuring the peak of the head from neckline and using this range, as an indicator of the take profit level.

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