why is the reverse head and shoulders stock trader pattern deemed so reliable?
why is it reliable that after the reverse head and shoulder pattern occurs, the stock price will jump?
why is it reliable that after the reverse head and shoulder pattern occurs, the stock price will jump?
Inspector Clouseau
Favorite Answer
It's really not that reliable. All the chart patterns (and I occasionally use them) are quite evident AFTER the fact. You can look back at the charts and see "oh! here's one, and here's another. By god these patterns are right on". But if you really analyze the chart you'd see many more reverse head and shoulder that didn't work out. We often see what we want to see. Plus the real problem is 'reading the right side of the chart' i.e. is what i'm looking at in real time a head and shoulder's and will I bet on it.
Anonymous
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Anonymous
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