Here is a Head and Shoulders target zone chart .
This pattern has a 60% chance of reaching the red zone.
Valid price movement is when a candle is completed and there is an open and close at key levels...the wicks are important as well but the big money is more concerned with open and close price. Although price has broken neck line, today was the first significant open and close below neck.....now we need to see a big push to the down side with a big spike in volume to really get this pattern completion .
Friday, July 10, 2009
Spy Head and Shoulder Patern 7-10-09
Posted by Neboxian at 4:52 PM
Labels: Head and Shoulders Pattern
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