Head and Shoulders formations

[subaru69]

Hmmm, not really in my book subaru. The left shoulder isn't really pronounced enough, and the right shoulder was never forming up. Looks to have broken up now through the 32.5 - 33 resistance.

Thanks,

With your chart I agree totally.

Looks like that resistance wasn't long broken (I own currently), would be nice if it was...

The chart you're using looks quite different (same numbers obviously) from the one I looked at on asx.com.au over a 6 month time-frame.

Is there a certain time-frame or scaling which is best? I imagine the answer is individual to each situation.

Ps- what does one have to do to enjoy the life in Peru??

 

[Sean K]

Thanks,

With your chart I agree totally.

Looks like that resistance wasn't long broken (I own currently), would be nice if it was...

The chart you're using looks quite different (same numbers obviously) from the one I looked at on asx.com.au over a 6 month time-frame.

Is there a certain time-frame or scaling which is best? I imagine the answer is individual to each situation.

Ps- what does one have to do to enjoy the life in Peru??

Yeah, all depends on time frames really and weather you use a semi log scale as well. You see different things in charts over different time frames so I normally look at a 6 mth, 1yr, 2yr, and 3yr to get the full picture.

Peru? You probably need to be a hippy and live in the Amazon, or work in the travel industry, or marry someone in the travel industry. And know some Spanish.

 

[subaru69]

I know this sounds dumb, and I'm sure it's been answered on another thread, but where do I find good, free charts (including the semi-log kind). It's very sad :error: but I feel that at the moment I'm trading with one hand behind my back probably due to :alcohol: or stupidity. I'm an uber nube and appreciate any advice/encouragement. Alternatively a good spanking might suffice.

I finally worked out that you are on the 'smooth neck of the moon'. My favorite song line ever is 'Now my helmet's on, you can't tell me I'm not in space..'.

Saluting your ability to live (with a woman, unlike most bloggers) in an exotic location. Keep it real, live the dream. :bowdown::bowdown:

 

[Sean K]

I know this sounds dumb, and I'm sure it's been answered on another thread, but where do I find good, free charts (including the semi-log kind).

Yes, has been discussed a bit. Go to advanced search and look for 'charts' in the title of threads. I just did it and there's a page of threads. Start from the top I suppose. Or, if you see someone with nice charts, send them a PM for the provider.

 

[zolow]

Alright... I'm probably lacking a little in the nuances of tech analysis. I would like to pose a question that hopefully those more experienced can answer:

Has the second shoulder of a downtrending head and shoulders just formed for the ASX?

I know you can have uptrending and down trending head and shoulders formations, but can you even a head and shoulders that steep?

 

[PLooB]

Alright... I'm probably lacking a little in the nuances of tech analysis. I would like to pose a question that hopefully those more experienced can answer:

Has the second shoulder of a downtrending head and shoulders just formed for the ASX?

I know you can have uptrending and down trending head and shoulders formations, but can you even a head and shoulders that steep?

I'd say the ASX200 is in a downtrend with resistance around 5200

 

[Wysiwyg]

Okay, with my limited knowledge of charting this is my interpretation of what is unfolding.(note it`s the psuedo SPI 200 chart)

This is simply a projection and because it`s projected may not happen.
At least H&S patterns can be defined

Any variations on this???

Well it was certainly my optimistic bias here in which I was wrong.An orderly procession down appears to be necessary.

 

[Sean K]

My first nom is BHP.

Looks to be breaking through the neckline where there should have been good support, and also looks like it may break the next important support at $40. The target coincides with long term support around $34.

Will be interesting to see if the principle is valided more than not.

BHP still in play after making it to $36 on the way down and then recovering back to $40 resistance. Failed, and looks to be heading back down. For the moment. Who knows in this crazy market. Where's the bear rally!

 

[Tukker]

So Your typical Head and Shoulders signals a bearish trend, whereas the inverted Head and Shoulders signals the potential for a bullish trend?

 

[Go Nuke]

So Your typical Head and Shoulders signals a bearish trend, whereas the inverted Head and Shoulders signals the potential for a bullish trend?

Yep you got it!

Here's some simple charts and explainations for you

H&S at a top
http://www.recognia.com/reference/patterndescr_hst.htm

H&S at a bottom
http://www.recognia.com/reference/patterndescr_hsb.htm

 

[Sean K]

Well, BHP made it close to the target which is good enough. Still could go further I suppose, and might until it breaks up through 42.

Has LEI been mentioned?

Looks ordinary.

This is on my blue chip potential buy for the grandkids list too...

Now on the short list.

 

[subaru69]

Maybe I'm just being hopeful

But I think this may be an inverse H&S pattern

It would be nice if ASX tracked up, from memory it tends to act as some sort of leading indicator...

 

[Go Nuke]

Ive found a possible Inverse H & S
If oil rebounds, so will this stock imo

Nice thread by the way. Very informative for all

 

[happyjack]

This is unusual as it is 4 in a row Note the measure is off as it is not possible to hold a mouse steady enough to get the second one the same as the first so I just get close.

 

[Bolivia]

Not sure how to post a graph but CSR looks like a nice looking inverted head and shoulders.

Anyone care to analyse?

 

[Sean K]

Not sure how to post a graph but CSR looks like a nice looking inverted head and shoulders.

Anyone care to analyse?

Might be Bolivia, but a little tenuous.

Coincides with some resistance which is promising.

(you should do a search on 'how to post charts' and you'll get it.

 

[pistol72]

A question re H+S on the weekly WOW chart
We have a head and shoulder pattern with a solid close below the neckline.Now,does the throwback into the pattern confirm that its a failed pattern??
cheers Pete
ps... another inverted h+s ,platinum asset .PTM

 

[BentRod]

Here is one Chaps.

IPL.

Seems like a break of the low in August is a critical technical level.

 

[Sean K]

A question re H+S on the weekly WOW chart
We have a head and shoulder pattern with a solid close below the neckline.Now,does the throwback into the pattern confirm that its a failed pattern??
cheers Pete
ps... another inverted h+s ,platinum asset .PTM

Could do. On a 3 year weekly still looks vulnerable to revert back until it breaks 29 ish, IMO. Or, the effect of the H&S when it broke down through 26 and hit 23, is all it could manage to the downside.

 

[BentRod]

Target met for IPL or is it just filling that gap before heading lower?

I favour heading lower.