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Chart School · Chart Patterns · Lesson

Head and shoulders, and double tops

4 minMembers

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Head and shoulders

The most famous shape on any chart: three peaks, the middle one highest, sitting on a shared floor — the neckline.

As a description it is genuinely informative. Price made a high, pulled back, made a higher high, pulled back to the same floor, then made a lower high. The last part is the substance: buyers could not get back to the previous peak.

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