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The Head and Shoulder Bottom Pattern

Jason Douglas

Oct 25, 2021 13:27

  

      The Head and Shoulder Bottom Pattern occurs during a downtrend and marks its end. This chart pattern shows three lows, with two retracements in between.

       头肩底1.jpg

 

How to Trade This Pattern？

  1. On the pictured chart, the pattern completes when the price breakout the neckline. It shows the transition from a downward trend to an upward trend. Short positions would better close out.

    头肩底2.jpg

     

  2. You would trade by entering long positions when the price moves above the neckline. Also place a stop-loss order just below the low point of the right shoulder.

    头肩底3.jpg

     

  3. The pattern also provides price targets. You can subtract the low price of the head from the high price of the retracements. This gives you the height of the pattern.

    Then establish the profit target based on the height of the pattern added to the breakout price. 

    头肩底4.jpg

     

    When price is in a downward trend for a period of time, we must observe carefully whether there is a head and shoulder bottom pattern. Once seize the opportunity, there will be a big successful transaction.

 

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