ajtj99's Market Pulse

[ajtj99]

The orthodox method of calculating a target from a H&S neckline break as I've understood it is to take the measurement of the head to the neckline, and subtract that number from wherever the downside break of the neckline occurs after the right shoulder has formed.

Over the years I've tossed that method aside, as I've found slanted H&S top patterns sometimes have targets that are not much lower than the origin of the neckline, or they're too far down on a down-slanted neckline.

For my measurements I use the point of the neckline directly below the head, and subtract from there.

I've found that's a much more accurate method over the years.

I make the support for POT at $170 initially, and the H&S top target the gap around $146.