Secret Head And Shoulder Pattern

Secret Head And Shoulder Pattern

-Initiated by the uptrend
-There are 3 pieces top
-Peak of the middle called the Head
Peak left-called left shoulder
Peak-called right of right shoulder
-Top of head should be higher among the three
-The line that connects "the two lowest point in the formation" called Neckline
-The closing price below the neckline is a validation.
-Target is determined based on the projected closing "the vertical distance the top of head to the neckline".

Ideal volume on the pattern Had And Shoulder
-Volume on Head should be thinner than left shoulder
-Most importantly, the volume on the right shoulder is the thinnest volume when compared to the head or left shoulder
-Volume increases during breakout
-Volume thinning when (if it occurs) pullback
-Volume again increased during continued downtrends after pullback.