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Strategies & Market Trends : The New Economy and its Winners
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To: ftian who wrote (12703)7/14/2002 8:43:54 PM
From: Bill Harmond  Read Replies (1) of 57684
 
I'm not sure it qualifies as head and shoulders reversal pattern.

A head and shoulders reversal has some very specific volume characteristics. The left shoulder is made on the highest volume. The head on less volume than the left shoulder, and then the right shoulder on less volume still.

I don't have volume data handy for the left shoulder, but the right shoulder has been made on much higher volume than the head was.

Anything is possible, of course, but pure TA needs those volume characteristics.
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