HEAD AND SHOULDER PATTERN

 

What Is a Head And Shoulders Pattern?

✍A head and shoulders pattern is a price movement formation three peaks, the outside two are close in height and the middle is longest in price price terms. 

✍In technical analysis, a head and shoulders pattern describes a specific chart formation that predicts a reversal of price at the top. 

✍The head and shoulders pattern is considered as the most reliable trend reversal patterns. 

✍As you can see the above image the head and shoulder pattern has formed in it. The head and shoulder pattern is simply a lower top and lower bottom on the chart.

✍The head and shoulder pattern confirmation is the breakdown of neck line and closing below it.

✍What Head and Shoulders Patterns Looks Like

First, we'll look at the formation of the head and shoulders pattern and then the inverse head and shoulder pattern.

✍Formation of the pattern (seen at market tops):

Left shoulder: The first shoulder formation is the part of previous uptrend. The correction in the first shoulder is normal in price and the confirmation is not happened till that.

Head: Price grows again forming the higher top but the correction after it is little more in size.

Right shoulder: The third peck or last shoulder is small in size and forms the lower top.

In some times market may test the neckline as resistance after the fresh buying. 

The role of volume is greater in any pattern of price movement. The breakdown of neckline should be with higher volume. 

How to trade head and shoulder pattern?

The pattern confirms after the breakdown and trade has to taken after it.

The target of the pattern is almost equal to the height of head and the stoploss has to be put at the high of second shoulder. 

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THREE WHITE SOLIDERS

 

✍The three white soldiers forms at the bottom of stock or index and act as a trend reversal in an upward direction. 

✍The morning star, marubozu or bullish engulfing can turn into three white soldiers in some cases

✍This is more reliable pattern as compared to other candles.

✍The first candle can be larger in size.

✍The third candle should not be small in size as compared to other three.

✍The volume of the three candles should be larger in number as compared to past volumes of the stock. 

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THREE BLACK CROWS

 

✍The three black crows is a trend reversal candlestick pattern forms at the top of uptrend. 

✍This pattern is more reliable and high success rate like marubozu or engulfing. 

✍The first bearish candle formation should be large size and high volumes. Other two candles should be small or medium in size.

✍The third candle should not be smallest among the three. 

✍The upper and lower shadows should always be small in size for all candles as compared to body of candle.

✍The stop loss should be put on the high of first candle it seems large in percentage but the target is larger than any other pattern. 

✍The evening star, marubozu or engulfing can turn into three black crows in most of cases.

✍As per shown in the above image the three black crows forms and the downtrend begins. 

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BEARISH INSIDE CANDLE

 ✍The bearish inside candle forms at the top of the uptrend in stocks/securities. 

✍The inside candle forms after the bullish candle is an indication of inside candle. The opening and closing of should be in the range of first candle. 

✍The formation of third bearish candle is confirmation of starting of downtrend or correction. 

✍The trade has to be taken once the confirmation takes place and the stop loss has to put at high of first candle.

✍The reliability or success rate of the inside candle is less as compared to other candles forms.

✍The trade has be taken once the confirmation happens and the stop loss has to follow strictly.

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BULLISH INSIDE CANDLE

  

✍As the name suggest bullish inside candle forms inside the range of first candle which is bearish in nature. 

✍The inside candle also called as HARAMI CANDLE(Japanese language). This is an trend reversal candle which indicates there should be trend before the candle to reverse it.

✍The Inside candle forms at the bottom of the stocks/securities. The bullish candle forms after the inside candle is a confirmation of the trend reversal. 

✍The stop loss has to be taken on the low of first candle. The reliability or success rate of inside candle is less as compared to other forms. 

✍The target for this should be set on the price movement basis of support or resistance or any trend reversal candle at the top. 

✍The trade has to take only with confirmation only and strictly stop loss has to be follow. Candle can be used on any time frame but the reliability is higher in larger time frame such as daily, weekly and monthly. 

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SANDWICH CANDLESTICK PATTERN

✍The sandwich pattern formation on the chart can be bullish trend reversal or bearish also. It may act as trend continuation pattern in some cases. 

✍Sandwich pattern can form also at the top or bottom of the trend. This pattern indicates the stock is in the specific range for the time and breakout or breakdown can happen with the range.

✍As you can see in the above image the sandwich pattern can be more than three candles. The high and low the range specified in it. The trade has to taken on breakout or breakdown. 

✍The sandwich pattern forms in the trend can also act as a trend continuation pattern which can also be flag pattern in price movement. 

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FALLING THREE METHODS

✍Falling three methods candlesticks pattern forms between the mid of downtrend. It is trend continuation pattern rather than trend reversal. 

✍The first bearish candle formation at the trend and the three small candles or dojis are formed against the trend.

✍The fifth and last candle formation covers all the whole move of small candles and the downtrend continues. 

✍The three candles formed never retraces the whole first candle but the fifth candle always covers all the move three candles.

✍The trade has to be taken on the sell side and the stop loss has to be taken on the high of first candle. 

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RISING THREE METHODS

 

✍The rising three methods is trend continuation pattern rather than trend reversal.

✍It has formed at the mid of bullish trend. It indicates that the trend is in continuation form.

✍The first bullish candle formation at the trend and the three small candles or dojis forms against the trend.

✍The final candle formation covers whole fall of the three candles in a single move.

✍The volume of last candle should be good enough as compare to past volumes of stock. 

✍As per shown in the above image the pattern has formed in the mid of trend and act as a trend continuation for the bull trend.

✍The bullish position should be hold in this and the stop loss has to be shifted on the low of last candle.

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✔ TYPES  OF  CANDLESTICKS 

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DARK CLOUD CANDLESTICK

 

✍This candlestick pattern forms at the top during the end of uptrend and indicates the trend reversal at the top.

✍The first bullish candle formation at the top and the second bearish candle is formed following that. 

✍The second day candle opening is gap up opening and the closing of the second candle is 50% or more than lower to first candle. 

✍The trade has to be taken on the third candle formation which is bearish.

✍The stop loss has to be taken on high of second candle.

✍As per shown in the above image the dark cloud cover candle has formed and the downtrend  begins after it.

✍The third opening gap down and the bearish closing is the confirmation of the trend reversal. 

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PIERCING CANDLESTICKS

 

✍Piercing candlestick is an indication that the downtrend is at the end and uptrend is near to start

✍At the end of downtrend bearish candle forms and the large bullish candle forms after it at second day.

✍The bullish candle forms on the second day should be the gap down opening and closing should above the 50% of first candle.

✍The trade has to be taken on the third day closing basis. The third day has to be bullish candle for taking trade and stop loss has to be taken on the low of second bullish candle. 

✍Piercing pattern is more reliable pattern. The success rate is higher in this candle.

✍The candlestick pattern is effective on any time frame but the success rate is higher in larger time frame than small ones.

✍As shown in the above image after the formation of piercing pattern the bullish candle forms after it and the trade has to taken after it.

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