head and shoulders pattern and one you probably want to keep an eye. As soon as the right shoulder begins, we have enough to start plotting the neckline. Notice how with the second entry method were waiting for a retest of the neckline as new resistance.
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Heres why A head and shoulders is confirmed with a close live forex quotes weekend below the neckline, right? But what is it about the pattern that causes the market to reverse? The two shoulders also form peaks but do not exceed the height of the head. For example, if you see this: Its a sign of a weak reversal pattern. Look no further than the gbpjpy example above. A common mistake among Forex traders is to assume the pattern is complete once the right shoulder forms.
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