■ The head and shoulders pattern is believed to be one of the most reliable trend reversal patterns.
It is one of several top patterns that signal, with varying degrees of accuracy, that an up/down trend is nearing its end.
■ As shown on the following chart, MACD rises above the signal line. Crossovers are more reliable when they conform to the prevailing trend.
If the MACD crosses above its signal line following a brief correction within a longer-term uptrend, it qualifies as bullish confirmation.
The target is marked on the chart.
Have a nice weekend 💚
It is one of several top patterns that signal, with varying degrees of accuracy, that an up/down trend is nearing its end.
■ As shown on the following chart, MACD rises above the signal line. Crossovers are more reliable when they conform to the prevailing trend.
If the MACD crosses above its signal line following a brief correction within a longer-term uptrend, it qualifies as bullish confirmation.
The target is marked on the chart.
Have a nice weekend 💚