Is this right shoulder of h&s on naz?

Discussion in 'Trading' started by pattern_trader, Jun 14, 2007.

Is this the right shoulder of h&s on naz?

  1. yes

    5 vote(s)
  2. no

    6 vote(s)
  1. What do you think?
  2. chart
  3. Lucrum


    I don't trade or even look for H & S patterns although I am familiar with them.
    I'm not trying to be derogatory but it seems to me you won't know it's a H & S until the pattern completes. In this case if and when the neck line is taken out. In the mean time the market could just as easily make new highs or trade side ways (among other things) and render the pattern invalid. Long way of saying I think it's too soon to worry about it.
  4. I can see at least 6 instances of the "head & shoulders" on the chart you posted. And each time, we went higher. So much for the indicator: it's been wrong 6 out of 6 times. :)
  5. exactly, which is why i posted "do you think..." i would say if today's high gets taken out it probably won't be h&s. just a pretty good example of what could turn to be a h&s.
  6. u show me the 6 others on there and i'll send u a prize. i don't see 1 other on there at all, and like one reply said, this could turn out not to be 1 as well, just has the right shoulder here happening in the right place.
  7. That's what I was thinking. There is one that could be argued for at the beginning of January...never snapped a neckline though. :D
  8. Here, I circled a few on your chart:
    • hs.png
      File size:
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  9. i wouldn't call any of those h&s patterns.
  10. Only one I see is the 2nd one on the left i first mentioned and the potential one forming now. Otherwise pass the weed bro. :D
    #10     Jun 14, 2007