Inverse Head and Shoulder Chart Pattern | Tech MaMa-টেক মামা
Channel: PipSpider
Date: 2022-09-04

Inverse Head and shoulders:
Inverse Head and Shoulders is a bullish reversal price pattern. The shape of this pattern is the same as that of the Head and Shoulders pattern but in the opposite direction. It is usually at the bottom of the market and is a signal of strong bullish momentum.
The pattern consists of Left Shoulder, Head, and Right Shoulder. A neckline is a line connecting the two peaks of the pattern. The pattern is perfect when the neckline is horizontal (Two peaks have equal prices).
Usually, this pattern comes after a strong price drop. This is a warning signal for investors that the market will be back to an uptrend if the price breaks out of the neckline and goes up.
After creating the Right shoulder, the price will break out of the neckline to go up and create an uptrend. In some cases, the price can retest the neckline and then increase again.