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A useful chart pattern -- the head and shoulders 'top'!
March 13, 2015

Head and Shoulders Top Chart Pattern




Friday, March 13, 2015
The Head and Shoulders ‘Top’ is one of two major head and shoulders chart patterns which form the most common reversal formations, and signals to chart users that a security's price is likely to make a downward move, especially after it breaks below the neckline of the pattern. This pattern occurs after an uptrend and usually marks a major trend reversal when complete.

The Head and Shoulders Top formation has four main steps for it to complete itself and signal the reversal – these consist of three successive peaks -- a left shoulder, a head (being the middle peak – and the highest), and a right shoulder -- and a line drawn as the neckline – which forms support from the reaction lows of the left and right shoulders.

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