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Non-Tech : Kirk's Market Thoughts -- Ignore unavailable to you. Want to Upgrade?

To: #Breeze who wrote (18217)	3/11/2024 9:57:30 AM
From: Kirk ©	Respond to of 26687

Interesting and not everyone seems to agree on this. Kirk I only consider necklines that are horizontal or declining. Not ones that ascending. Is that rule from any source or personal experience? Stockcharts and Wikipedia (perhaps quoting Stockcharts) say one can use either. Head and Shoulders Bottom [ChartSchool] (stockcharts.com) Neckline: The neckline forms by connecting reaction highs 1 and 2. Reaction High 1 marks the end of the left shoulder and the beginning of the head. Reaction High 2 marks the end of the head and the beginning of the right shoulder. Depending on the relationship between the two reaction highs, the neckline can slope up, slope down, or be horizontal. The slope of the neckline will affect the pattern's degree of bullishness: an upward slope is more bullish than a downward slope. If we were to adjust price on this chart for inflation, the dashed-green neckline might be flat or falling...