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Learn support and resistance 📊🟢🟠🔴 to complete deals successfully 👌💯🏆 and avoid losses 💪 in daily trading 😎✅ Part 1
1 Head and Shoulders
The head and shoulders pattern appears less frequently on charts than other patterns. It consists of three peaks, one of which is located in the middle above the other two. At the base of these peaks is the neckline—a support level. Sell trades should only be opened after the right shoulder has formed, prices have broken through the neckline from top to bottom, and the price has consolidated below. Additionally, the right shoulder should be slightly higher than the left shoulder, but this is not always the case.
The head and shoulders pattern appears less frequently on charts than other patterns. It consists of three peaks, one of which is located in the middle above the other two. At the base of these peaks is the neckline—a support level. Sell trades should only be opened after the right shoulder has formed, prices have broken through the neckline from top to bottom, and the price has consolidated below. Additionally, the right shoulder should be slightly higher than the left shoulder, but this is not always the case.
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