T/A ETF AND INDEX

[POKERSAM]

Head and Shoulders - I don't know of any pattern more misunderstood by the dumb masses than this one.
There are head and shoulders tops and there are head and shoulders bottoms. Head and shoulders bottoms are sometimes called inverted head and shoulders.
Whether the pattern is a head and shoulders top or bottom it is always a reversal pattern and never a continuation pattern.
The trend leading into a head & shoulders bottom MUST be down.
The trend leading into a head & shoulders top MUST be up.
A continuation head and shoulders as a recognized pattern having any significance or consistency does not exist. It is just as much nonsense to say "continuation head and shoulders" as it is to say "continuation top" or "continuation bottom".
Of course if you are in the habit of making up your own rules, patterns, systems and TA then of course you can make anything anything you want. heh heh