Head Forex rebate king Shoulders Forex Head and Shoulders Forexrebateking cashbackinforex a kind of foreign exchange trend reversal pattern The pattern consists of a top (left shoulder), followed by a higher top ( forexrebateindonesia) and another lower top (right shoulder) The price fails to go up and down when the two locations are formed basically at the same level, this level is what we usually call the cashback forex level When the price fails to go up for the third time this neckline will be broken When the price fails for the third time, this neckline will be broken and the head and shoulders pattern is officially announced. In this example, we can clearly see that the head and shoulders pattern has 3 peaks on the way up, which are called the left shoulder, head and right shoulder. We can also set a profit target through the head and shoulders pattern by measuring the vertical distance from the top of the head to the neckline, which is approximately equal to the distance that the price may run after breaking the neckline as shown in the figure, you can see that once the price breaks the neckline, the drop is at least equal to the vertical distance from the top of the head to the neckline. You are muttering in your mind that the price is still going lower after hitting the retreat target our advice is, dont get greedy! Head and shoulders bottom forex head and shoulders bottom is also forex head and shoulders pattern, only this time the pattern and forex head and shoulders top just the opposite in the downtrend, first a trough is formed (left shoulder), followed by a deeper trough (head), followed by a higher trough (right shoulder) as shown, you are able to see a typical head and shoulders bottom pattern, with the formation of the pattern, we are able to set a self-imposed stop above the neckline level The first step is to measure the vertical distance between the head and the neckline level, which is almost equal to the possible rise in price after the neckline level is broken. For example, you can lock in a portion of your profit after reaching your profit target and continue to hold a portion of your position in case the price may continue to move in the same direction as before